Sports Direct permitted to purchase 31 JJB stores
Sports Direct is allowed to acquire 31 of JJB Sports’ UK stores, according to the Competition Commission.
Sports Direct has been given the green light by the Competition Commission (CC) to acquire 31 JJB Sports stores in the UK.
Having given provisional permission to make the move last month, the CC announced its final decision today (March 16th) - and the verdict is that such a takeover will not lead to a substantial lessening of competition within the sports retailing industry.
Diana Guy, Chairman of the Inquiry Group and CC Deputy Chairman, commented: “We do not believe there will be higher prices or a reduction in quality and choice for consumers as a result of these store acquisitions.”
“Sports Direct and JJB are undoubtedly each other’s closest competitors nationally and this has not changed as a result of the transfer of a relatively small number of stores.”
News of the permission for acquisition comes as board member Malcolm Dalgleish announces his retirement from Sports Direct.
Reflecting on the decision, Company Chairman Keith Hellawell said his colleague has made a major contribution to the firm over the years, particularly in the area of retail property, and he will be missed when he leaves in September.
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Written by Ben Sillitoe
