JD Sports snaps up Cecil Gee

JD SPORTS Fashion has acquired menswear chain Cecil Gee in a £1.7 million deal with suit specialist Moss Bros.

Under the terms of the deal, JD is taking on the name and eight Cecil Gee stores from Moss, which has owned the brand since the two firms merged in the 1980s.

JD intends to run the stores as a separate brand, but with an enhanced product range that will include some of JD's premium branded fashion range.

In addition to JD branded stores, the company already runs two premium chains in Scotts and Bank.

Peter Cowgill, JD's chief executive, said the Cecil Gee acquisition gave it a "low-risk springboard for the development of a well-funded profitable premium brand fashion chain".

As well as the Gee deal, JD Sports also unveiled a move into Spain with the acquisition of a majority stake in leading sports retailer Sprinter Group, which has 47 stores in the south-east of the country.

JD has invested €20 million (17.7m) for a 50.1 per cent stake in a new joint venture company that will take over Sprinter's shops, while the stake held by its existing family owners will be reduced to 49.9 per cent.

JD will expand the Sprinter chain with stores more like the UK but utilising Sprinter's existing infrastructure.