23 August 2012 11:26
JD Sports Fashion has announced that it is selling Canterbury, owner of one of the largest global rugby brands, to fashion retail group Pentland for a total payment of approximately £22.7 million.
In turn, JD will acquire the ONETrueSaxon Brand from Pentland for £50,000. Peter Cowgill, executive chairman of JD said: "Having reviewed the options for Canterbury, we are pleased to have agreed its sale to Pentland on terms which are attractive for JD and provide Pentland with the opportunity to further build and develop the Canterbury brand. Acquiring the ONETrueSaxon brand will allow us to leverage our in-house expertise and offer new products through our core retail fascias."