JD Sports Fashion Plc has agreed to acquire DTLR, a lifestyle retailer. No financial terms were disclosed. The seller is BRS & Co.
NEW YORK, Feb. 1, 2021 /PRNewswire/ — DTLR Villa LLC (“DTLR” or the “Company”), a portfolio company of BRS & Co. (“BRS”), announced today that it has executed an agreement to be acquired by JD Sports Fashion Plc (“JD”), a global retailer of sports, fashion and outdoor brands. After the acquisition, DTLR will continue to be run by co-CEOs, Glenn Gaynor and Scott Collins.
DTLR is a lifestyle retailer that provides one-stop shopping for street-inspired footwear, apparel and accessories to young, trendsetting multicultural audiences. It is the Company’s mission to serve its local customers and neighborhoods with passion, superior product selection and community service. BRS originally acquired Downtown Locker Room (later re-branded to DTLR) with 43 stores located in the mid-Atlantic region and through new store openings and a merger with Sneaker Villa in 2017, DTLR Villa has become a leading U.S. lifestyle fashion retailer. The Company currently operates 247 stores across 19 states, principally in the north, south and east of the U.S.
Glenn Gaynor, co-CEO of DTLR, said, “With BRS’s support, DTLR has been able to bring the Company’s passion for expression, fashion, entertainment and community empowerment to a broader customer base. We look forward to partnering with JD management to serve a broader audience and to this next phase in the Company’s growth.”
Scott Collins, co-CEO of DTLR, added, “We look forward to continuing to expand DTLR’s community with JD management.”
Bruce Bruckmann, BRS Managing Director, said, “Glenn and Scott have led the Company through transformative growth and navigated difficult operating conditions with great success. It has been a privilege and a pleasure working with the DTLR management team and we wish them continued success.”
“Glenn and Scott have done a tremendous job building DTLR into a leading lifestyle retailer in the U.S. We wish them well as they embark on this new stage in the Company’s growth,” said Rashad Rahman, BRS Managing Director.
Completion of the acquisition is subject to customary closing conditions, including expiration or termination of the applicable waiting period under the HSR Act.
The Company’s financial advisor was Baird and legal advisor was Dechert LLP.
About BRS & Co.
BRS is a New York based private equity investment firm with combined capital invested of $1.2 billion, focused on investing in lower middle market consumer goods and services businesses. Since 1996, BRS has purchased over 50 portfolio companies for aggregate consideration of over $6.9 billion. In addition, BRS portfolio companies have completed over 40 add-on acquisitions. For more information, please visit www.brs.com.