Sports Direct grows its portfolio and acquires Jack Willis
The British group has acquired the company, that filed for bankruptcy, in an operation of 13.9 million euros (15.5 million dollars).
Sports Direct grows its portfolio. The British company, owner of department stores House of Fraser, has acquired the British brand Jack Willis for 13.9 million euros (15.5 million dollars).
The purchase of Jack Wills by Sports Direct also includes the hundred establishments of the brand in United Kingdom and Ireland. At the end of fiscal year 2018, the company had drops valued in 20.8 million euros (23.2 million dollars).
Founded in 1999, Jack Wills switched hands in 2016 to the Bluegem Fund. One year ago, the founder left the company due to disagreements with the owners. In its place, Suzanne Harlow, former Debenhams, took the lead of the company.
Sports Direct owned by the businessman Mike Ashley, closed its fiscal year 2018 with a revenue of 4.1 billion euros (4.5 billion dollars), 10.1% more. On the other hand, its net benefit multiplied by six in this period, up to 129.8 million euros (144.9 million dollars).
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