Investment group Aurelius has completed the acquisition of UK streetwear and sportswear retailer Footasylum from UK sportswear retailer JD Sports Fashion Plc, which has owned the company since 2019. The acquisition was announced earlier this month and confirmed by Aurelius on Monday.
In the transaction, Footasylum was valued at around EUR 45 million (GBP 37.5 million). The streetwear and sportswear supplier is expected to post total sales of more than €340m (£287m) in 2022 with an attractive EBITDA margin.
“We are delighted to welcome Footasylum to Aurelius’ dynamic portfolio of UK companies. The company is characterized by exceptional brand awareness with a strong presence in our shopping streets. The impressive sales performance has promoted this in recent years. This is especially true given the recent challenges in the retail sector. Aurelius will support Footasylum in the next growth phase by expanding the company’s online offering and developing its own brand positioning,” commented Tristan Nagler, Partner at Aurelius, in a statement.
Specifically, Aurelius plans to closely support Footasylum’s management team in driving digitalization while further expanding the company’s retail footprint. Footasylum will use the additional opportunities by further developing its own brand offering and building on the strong brand awareness. In addition, various initiatives are intended to improve profitability and make Footasylum “the number one address for fashionable streetwear and sportswear in Great Britain”.
Founded in 2005, Footasylum is based in Rochdale, England. The company currently operates 63 stores across the UK. The range of shoes, apparel and accessories – including those from third-party brands such as Nike, Adidas, TheNorthFace and NB – is also offered through seven of the Group’s websites, as well as private label and department stores.