In a $1.1 billion transaction, Birmingham retailer Hibbett will be acquired by UK retailer JD Sports Fashion.
“Today’s announcement is a true testament to all that our Hibbett | City Gear teams have built over the years and reinforces the strength of our brands, our close relationships with vendor partners and our team of dedicated colleagues across the country,” said Mike Longo, who will continue as Hibbett president and CEO. “JD Sports is a well-respected global leader in athletic footwear and fashion that, like us, is committed to the communities and customers it serves.”
Hibbett will maintain its headquarters in Birmingham, and Jared Briskin will become Hibbett’s COO, according to a press release from the company.
Regis Schultz, CEO of JD Sports, called its acquisition “a significant milestone.”
“We’re thrilled to acquire Hibbett | City Gear, combining two of the most respected athletic retail brands in the United States, as we continue to strategically expand our global multi-brand platform,” he said.
Rufus Hibbett founded Dixie Supply Co. in 1945, and the company was renamed Hibbett & Sons in 1952 and Hibbett Sporting Goods in 1969.
Hibbett Sports acquired City Gear in 2018. There were 1,169 Hibbett, City Gear and Sports Additions stores in 36 states as of Feb. 3, according to the company. The company has been publically traded since 1996.
Founded in 1981, JD Sports had 3,313 stores worldwide as of March 2.
