JD Sports has paid £1.6 million (€1.8m-$2.6m) to buy 100 percent of Canterbury International Australia and 51 percent of Canterbury of New Zealand. The cost includes £1.4 million (€1.6m-$2.2m) worth of assumed debt.
JD bought the insolvent Canterbury Europe last August for £6.5 million (€7.2m-$10.4m). The British sporting goods retailer, which also bought the Kooga brand of rugby apparel at the time, aid these new properties will not contribute to earnings in the short term, but will increase its worldwide control over the brand.
The Australian and New Zealand companies were previously owned by Herald Island, a New Zealand firm owned by Ross Munro. He will keep a 49 percent share of Canterbury of New Zealand, where he will act as chief executive. After the third anniversary of this transaction, the option will be open for that 49 percent to be bought as well.
Meanwhile, Uhlsport France is taking over the distribution of Canterbury in France, where the Kiwi company previously had a subsidiary. Uhlsport’s French office will continue to distribute Spalding in the country but will give up the distribution of Gilbert balls. These will be handled by TNT, the company that owns the Serge Blanco brand of rugby apparel.
