 has announced the acquisition of Go Outdoors in a deal worth £112.3 million, expanding interest in the outdoor market.){kind=link}
Sports retailer JD Sports (LON:JD) has announced the acquisition of Go Outdoors in a deal worth £112.3 million, expanding its existing interest in the outdoor market.
JD Sports said on Monday that it had acquired 100 percent of the issued share capital of Sheffield-based Go Outdoors, who saw revenues of £202.2 million and a pre-tax profit of £4.9 million for the 52 weeks to 30th January 2016.
The acquisition will expand the JD’s existing interest in the outdoor market, which currently includes the Blacks, Millets, Ultimate Outdoors and Tiso chains. Go Outdoors currently has 58 stores and was previously owned by private equity owners YFM Equity Partners and 3i Group. Go Outdoors founders, Paul Caplan and John Graham, will leave the business.
Peter Cowgill, JD Sports’ Executive Chairman, commented on the acquisition:
“Go Outdoors is a great addition to our existing Outdoor business. The minimal overlap in store locations and their out of town, one stop retailer approach complements the work we have done on the high street with Blacks and Millets and further strengthens our offering in the Outdoor sector. I am excited by the future prospects this holds for the JD Group.”
The company has expanded its interests abroad in the wake of Brexit, looking to diversify its assets despite “significant uncertainties”. The group hasve recently acquired businesses in both Portugal and the Netherlands, as well as Next Athleisure in Australia, providing “the platform to open JD in Australia”.