JD Sports has spent almost €20m to buy more shares in an online retailer for cycling, running and outdoor equipment in Spain it first took control of last year.
The Greater Manchester-headquartered group spent €140.4m in June 2021 to buy 80% of the issued shares in Deporvillage SL through its 50.02% intermediate holding company in the country, Iberian Sports Retail Group SL.
Based in Manresa in Catalonia, Deporvillage launched initially in 2010 and has expanded internationally with country specific websites in Italy (2013), France (2013), Portugal (2014), Germany (2018) and UK (2018).
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JD Sports has now acquired an extra 18% of the business, bringing its total ownership to 98%.
Deporvillage was established by Xavier Pladellorens and Ángel Corcuera who, after a number of fund raising exercises, are currently minority shareholders.
They have retained a 2% interest but JD Sports added that as part of the deal, the co-founders will step away from the management of the business.
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