UK-based footwear and apparel company Footasylum PLC has agreed to be bought by JD Sports Fashion PLC, a branded sportswear and fashion wear retailer and distributor.
Footasylum will be purchased in a transaction valued at up to 90 million pounds ($119.6 million).
The acquisition comes a month after JD Sports increased its stake in Footasylum to 18 percent.
JD Sports said that shareholders representing about 63 percent of Footasylum’s shares have agreed to the deal.