CHAMPION Sports — the well-known Irish sports fashion retailer — is set to be acquired by its British rival, JD Sports, in a deal industry sources are valuing at around €20 million.

The owner of retail chain JD Sports continued to defy expectations today after it revealed “pleasingly positive” Christmas sales figures.

The owner of the JD Sports chain today said it managed to grow sales over the past month despite slowing spending and the impact of the London bombings.

Takeover talk surrounded the JD Sports chain today after its founder slashed his shareholding nearly in half.