March 28, 2018 — Hughes Hubbard is serving as U.S. counsel to U.K. retailer JD Sports Fashion in its $558 million acquisition of Finish Line.
The British sporting goods company announced on March 26 that it agreed to buy the Indianapolis-based retailer in a move to expand its presence in the world’s largest sportswear market. The deal is subject to approval by shareholders of both companies, as well as regulatory approval, and is expected to close no earlier than June.
“This is a landmark day for JD and will be transformational for the business,” said Peter Cowgill, executive chairman of JD Sports Fashion. “It immediately offers a major presence in the U.S., a clear next step to further increase our global scale.”
JD Sports was founded in the U.K. in 1981 and has since then expanded throughout Europe and beyond. It now has more than 1,200 stores.
With approximately 13,000 employees and 930 branded locations in U.S. malls and shops inside Macy’s department stores, Finish Line is one of the largest retailers of premium multi-branded athletic footwear, apparel and accessories in the U.S.
Ken Lefkowitz leads the team, which includes Gerold Niggemann, Michael Traube, Steve Greene, M. Shams Billah, Gary Simon, Shane Stroud, Matt Syrkin, Carol Remy, Erin DeCecchis, Ariel Woldar, Nathaneel Ducena, Dena Smith, Philip Treesh and Laura Trumbull. The team completed this deal within hours of Grab’s acquisition of Uber’s Southeast Asia business, which was announced on the same day.