April 12, 2019
Consumer, Retail, E-commerce and Leisure
GCA Altium advises Footasylum plc on its recommended takeover by JD Sports Fashion plc
GCA Altium acted as Rule 3 Advisor, Financial Advisor and Nomad to Footasylum plc, a fashion retailer focusing on the branded footwear and apparel markets, on its recommended takeover by JD Sports Fashion plc. The transaction valued Footasylum at £90m.
Founded in 2005, Footasylum is a multi-channel branded fashion retailer focusing on the footwear and apparel market. It retails “on-trend” product ranges with products sourced from an extensive stable of third party and own brands which are predominantly aimed at 16 to 24 year-old fashion-conscious customers in the UK.
JD Sports is a multi-channel retailer of fashionable branded sports and casual wear, combining globally recognised brands with a number of strong own-brand labels. JD Sports operates 2,400 stores across 18 countries, combined with the latest online and in-store digital technology, providing it with a truly multi-channel, international platform. JD Sports is listed on the Main Market of the London Stock Exchange at a market capitalisation of c.£5bn.
The £90m takeover of Footasylum represents a strategic acquisition for JD Sports to further expand its UK retail portfolio and strengthen its position in the UK branded footwear and apparel retail market.
GCA Altium was appointed to advise Footasylum on the takeover by JD Sports due to our existing strong relationship with the company, deep knowledge of the consumer sector, experience of public market transactions and expertise in the Takeover Code. GCA Altium previously advised Footasylum on its IPO in November 2017 and has been retained as its AIM nominated advisor since that time.
Clare Nesbitt, CEO of Footasylum, commented: “We are looking forward to working with JD Sports to realise the opportunities available from the combined business. Footasylum has faced some exciting times and some challenging times as a standalone listed company and we are grateful that GCA Altium has been on hand to expertly guide us through them.”