Freeths has provided legal advice to Gym King on its multi-million-pound investment from FTSE 100 listed JD Sports.
Freeths has provided legal advice to Gym King, one of the UK’s fastest growing lifestyle performance brands on a multi-million-pound investment from FTSE 100 listed JD Sports.
The investment sees JD take a significant minority stake in the business. This strategic partnership is designed to fast track growth and international expansion, specifically into the USA, Europe and Asia where JD already has a large footprint with over 2,500 stores, complemented by localised trading websites.
Established by Jay Parker in 2015, Gym King has earned itself an impressive reputation for quality, stylish, athleisure and performance wear. The partnership with JD will serve to cement Gym King’s position as one of the UK’s leading dual gender fashion brands.
“This strategic partnership will help Gym King capitalise on the huge opportunity ahead of us, becoming a world renowned ‘Lifestyle Performance’ brand”, said Gym King Founder & CEO Jay Parker. “Our core brand values – Mindset, Resilience & Community align perfectly with the JD business and consumer. We have continued to see impressive growth over the last 12 months with a focus on our own online, direct to consumer offering alongside our premium wholesale distribution to selected retail partners. The clear synergies with JD Sports will create a strong platform for accelerated growth.”
Peter Cowgill, Executive Chairman of JD Sports Fashion PLC, commented “We have long admired the Gym King business and have increasingly recognised its potential as we’ve worked together in recent years. Investing in Gym King was a natural follow on to strengthen our partnership and is testament to the work Jay and his team have put in over recent years. The future for Gym King has a great number of opportunities and we are delighted to be part of that journey.”
Dahren Naidoo, Corporate Partner, Freeths, said, “We are delighted to have supported Gym King on this game-changing deal. We believe this deal with JD Sports will further enhance the brand and the organisation’s ambitions. We look forward to working with them to achieve their next goals.”
Headquartered in Leeds, Gym King was also advised by PwC Corporate Finance. PwC also provided commercial due diligence, financial due diligence and tax advice.
JD Group Plc was advised by Addleshaw Goddard LLP.
The Freeths team was led by Corporate Partner Dahren Naidoo, supported by Megan Atack, Claire Boyce and Laura Tracey.
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