The Iberian Retail Sports Group, commonly known as ISRG, is in a pivotal growth phase as its core investor network reshapes the distribution footprint of sports goods and fashion across Spain, Portugal, and the Netherlands. Sprinter, a well-established running and athletic brand, sits at the heart of this expansion, with the group operating nearly 500 retail points across Europe.
Minority shareholders led by the Segarra family from Elche, who helped establish Sprinter and Sonae Portugal, have invoked the buy-sell option embedded in the 2018 partnership agreement. This move hints at a possible realignment among partners as JD Sports and Sonae weigh whether to buy or part with their shares. The steps mark the formal start of a corporate reconfiguration process.
This shift is reflected in regulatory filings and public disclosures where both JD and Sonae outline strategic disagreements. The exchanges reveal diverging views on how ISRG should guide its growth in the coming years.
In a public note, the chain framed the minority stake decision as part of a broader shift in the relationship with JD Group, noting JD’s recent positioning in sports retail development and its impact on ISRG’s growth strategy and options.
Negotiations now begin. JD must decide whether to pursue a buy or sell option, with Sonae confirming that minority shareholders retain the right to buy or sell under terms set at the time. The outcome is expected in the second half of the year.
Sprinter accelerates growth and plans 28 new stores
The British multinational notes that the process could proceed without changes in ownership in the United States. The announcement comes the same day JD expressed interest in acquiring the French group Courir, a network of 313 stores across Europe, including 24 in Spain and five in Portugal. JD values the Courir acquisition at 520 million euros.
Another section of the Sprinter store in Alcorcón. Information
In its statement, JD Sports Fashion confirms the use of the buy-sell mechanism for minority partners in Spain and Portugal, and it describes the European subsidiaries as part of a streamlined ownership structure. It also notes that the remaining 20 percent stake of an acquisition in Germany has now been completed.
CEO Régis Schultz commented that greater control over long-term development of the JD brand would streamline decision-making and enable more efficient asset use across Europe. The emphasis on a centralized approach aims to accelerate growth and operational efficiency.
Sprinter and Sport Zone owner launches a major new distribution platform
Originating in 2011 when JD acquired just over half of Sprinter’s shares, the Segarra family built a chain of apparel and sporting goods stores. A 2017 joint venture with Sonae Portugal created ISRG, bringing together management and brands such as JD, Sport Zone, Deporvillege, Perry, and Aktie across Spain, Portugal, and the Netherlands. The group’s consolidated performance last year reached 1,257 million euros in revenue, a 40.7 percent rise, with EBITDA of 128 million euros. Recent store openings include Sprinter’s megastore in Alcorcón and the first Deporvillege location, signaling momentum in both formats.