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Manchester Evening News

World

Jon Robinson

Bury's JD Sports sells Footasylum to German giant for £37.5m after competitions watchdog fine

Footasylum JD Sports Co CMA Bury Aurelius op

Footasylum has been sold to a group in Germany for £37.5m after JD Sports was ordered to dispose of the brand by the UK's competition watchdog.

The Bury-headquartered retail group has exchanged contracts with Aurelius Group, with the deal expected to complete in the coming weeks. The move comes after JD Sports bought Footasylum for £90m in March 2019.

However the Competition and Markets Authority (CMA) ordered it to dispose of the company because of serious competition concerns.

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