International law firm Addleshaw Goddard is advising JD Sports on its acquisition of Hibbett, a US-based athletic fashion retailer with more than 1000 stores.

The Addleshaw Goddard team advising on finance aspects of the deal was led out of Manchester by Partner Martin O'Shea, with support from James Garner and Conor Morrissey.

JD Sports is funding the acquisition through a combination of existing cash resources and a $1bn extension to its existing bank facilities.

Headquartered in Alabama, Hibbett has stores located in 36 states across the US and the combined revenue of JD and Hibbett in North America would be approximately £4.7bn. The transaction is subject to customary conditions including Hibbett stockholder approval and clearance under the US Hart-Scott-Rodino (HSR) Antitrust Improvements Act.

It is expected to be completed in H2 2024.