5 Aug 2009

British buyer for sportswear business Canterbury

6:32 am on 5 August 2009

Sportswear maker Canterbury of New Zealand has been bought by British clothing and footwear retailer JD Sports for $16.5 million.

JD Sports, which has over 400 stores in Britain, has bought the European arm of the rugby shirt specialist, which was put in administration last month, and the global rights to the Canterbury brand.

In a complex deal with Canterbury's main owner, Kuwait Finance House, JD Sports will license the Canterbury brand to the existing New Zealand and Australian operations.

KPMG restructuring and insolvency services director Shaun Adams says the business in New Zealand will continue to operate.

Canterbury provides clothing to sports teams such as the Black Caps, Warriors, Wallabies, Queensland State of Origin and eight Air New Zealand Cup rugby teams.