British sports fashion retailer JD Sports Fashion has completed the merger of US fashion retail chain Finish Line for approximately $558m.
The deal, which was announced in March, has seen Finnish Line merged as an indirect wholly owned subsidiary into JD Sports business.
It will also expand the presence of JD Sports by making it the multi-channel and multi-branded retailer of sports fashion and footwear across the world.
JD Sports executive chairman Peter Cowgill said: “This marks a momentous step in JD Sports’ global expansion and represents an exciting opportunity to bring our market-leading, multi-brand retail proposition to the world’s largest athleisure market, both online and in stores.
“Our team will now collaborate with the experienced Finish Line management team and the key global brands to bring best-in-class retail theatre and multi-channel consumer experience to the US.”
Barnes and Thornburg served as the legal counsel to Finish Line while PJ Solomon served as the lead financial advisor. Houlihan Lokey Capital was a financial advisor and Faegre Baker Daniels was a legal counsel to the Finish Line’s special committee of the board of directors.
Finish Line CEO Sam Sato said: “Today, with the closing of this merger with JD Sports, Finish Line opens an exciting new chapter.
“With a global footprint, together we will bring leading-edge innovation and service to our customers.
“Our shared vision and drive to provide a premium retail experience will further our impact as a leading, premium multi-channel retailer of sports, fashion and outdoor brands.”
Headquartered in Indianapolis, Finish Line offers shoes, apparel and accessories across its 930 branded locations in the US.
JD Sports offers multi-branded sports, fashion, outdoor apparel and footwear products to customers across its retail stores and digital channels.