JD Sports Fashion has acquired Go Outdoors, one of the largest outdoor dealers in the U.K The deal amounted to £112.3 million, also assuming net debt of approximately £16 million as part of the transaction.
Based in Sheffield, England, Go Outdoors was originally established in 1998 as a single store and has grown to 58 stores across the U.K., the majority of which are situated in out-of-town retail parks. For the 53-week period ended January 31, 2016, Go Outdoors had consolidated revenues of £202.2 million, an operating profit of £6.1 million, a profit before tax of £4.9 million and gross assets of £76.4 million.
This acquisition will complement the JD’s existing interest in the outdoor market through its Blacks, Millets, Ultimate Outdoors and Tiso businesses, which, in the 52 weeks to January 30, 2016, had combined revenues in excess of £155 million with 182 stores trading at the year end. The vast majority of the JD’s existing outdoor stores are situated on the high street, so there is minimal crossover with those of Go Outdoors, said the company.
Following completion of this transaction the founders, Paul Caplan and John Graham, reportedly will leave the business.
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