JD Sports, a company listed on the FTSE 100, has invested several million pounds in Gym King, one of the UK’s fastest-growing lifestyle performance brands.
JD will acquire a sizable minority ownership in the company as a result of the transaction. This strategic alliance is intended to hasten growth and global expansion, particularly into the USA, Europe, and Asia, where JD already has a substantial foothold thanks to its more than 2,500 stores and regional trading platforms.
Gym King, which Jay Parker founded in 2015, has built a solid reputation for offering high-quality, fashionable athleisure and performance clothing. Gym King’s status as one of the top dual gender fashion companies in the UK will be furthered by the cooperation with JD.
Gym King founder and CEO Jay Parker stated, “This strategic collaboration will help Gym King capitalize on the tremendous opportunity ahead of us, establishing a world-renowned ‘Lifestyle Performance’ brand.” “The JD company and customer absolutely connect with our fundamental brand values of Mindset, Resilience, and Community. With an emphasis on our own online, direct-to-consumer offering in addition to our premium wholesale distribution to chosen retail partners, we have continued to experience tremendous growth over the past 12 months. A solid foundation for rapid expansion will be established by the obvious synergies with JD Sports.
“We have long respected the Gym King business and have progressively released its potential as we have worked together in recent years,” said Peter Cowgill, Executive Chairman of JD Sports Fashion PLC. It was only natural to strengthen our relationship by investing in Gym King, which is a credit to the hard work Jay and his colleagues have been doing lately. We are thrilled to be a part of Gym King’s future, which is full of exciting possibilities.
PwC Corporate Finance and Freeths LLP provided Gym King with advice. In addition, PwC offered tax assistance, financial due diligence, and commercial due diligence.
Addles Haw Goddard LLP provided advice to JD Group Plc.
