UK retailer JD Sports plans to buy Finish Line for $558 million to be acquired by United Kingdom-based Sports Direct International.
If that happens, Finish Line likely would “keep the Finish Line banner, but create a mall-based ‘DSW of athletic shoes’ so to speak, and offer current, but not marquee, product at attractive prices,” Sam Poser tells USA Today.He also added that there is a 75 percent chance that the deal will go through.
“Finish Line has long admired JD and their commitment to serve customers with premium brands through a unique and innovative retail experience,” said Sam Sato, chief executive officer at Finish Line. “We are thrilled to partner with them and look forward to realizing the impact we will have on the marketplace together.”
A deal hasn’t been officially made, but it’s expected to get done very soon, as both Finish Line and JD Sports’ shareholders must approve the merger.