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| Peter Cowgill, executive chairman of JD ©manchestereveningnews |
JD Sports Fashion has taken a controlling stake in
Edinburgh-based outdoor clothing and equipment retailer Tiso for an
undisclosed sum.
Tiso, which includes retail subsidiaries Graham Tiso, George Fisher, Alpine Bikes and Blues The Ski Shop, described the deal as a “strategic investment” for Bury-based JD Sports.
Peter Cowgill, executive chairman at JD will take over as chairman at Tiso and Chris Tiso will continue his role as chief executive.
The company, which has 10 outlets around Scotland, will remain based in Edinburgh.
David McCorquodale, head of retail at KPMG and lead adviser on the sale of Tiso to JD Sports, said: “The outdoor retail market is consolidating, and scale with national coverage is an important aspect of meeting consumer needs.
“Tiso is a brand synonymous with authenticity, technical knowledge and customer service. To bring the Tiso brand into an ambitious larger group that can offer the full range of choice is a logical step for the Tiso family to take.
“For JD Sports, there is plenty of opportunity for further development of a business which has market leaders in Tiso, George Fisher, Alpine Bikes and Blues skiing.”
Tiso, which includes retail subsidiaries Graham Tiso, George Fisher, Alpine Bikes and Blues The Ski Shop, described the deal as a “strategic investment” for Bury-based JD Sports.
Peter Cowgill, executive chairman at JD will take over as chairman at Tiso and Chris Tiso will continue his role as chief executive.
The company, which has 10 outlets around Scotland, will remain based in Edinburgh.
David McCorquodale, head of retail at KPMG and lead adviser on the sale of Tiso to JD Sports, said: “The outdoor retail market is consolidating, and scale with national coverage is an important aspect of meeting consumer needs.
“Tiso is a brand synonymous with authenticity, technical knowledge and customer service. To bring the Tiso brand into an ambitious larger group that can offer the full range of choice is a logical step for the Tiso family to take.
“For JD Sports, there is plenty of opportunity for further development of a business which has market leaders in Tiso, George Fisher, Alpine Bikes and Blues skiing.”
By Shelina Begum for manchestereveningnews.co.uk
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