JD Sports acquires Go Outdoors

JD Sports Fashion has acquired 100 percent of the issued share capital of Go Outdoors Topco for 112.3 million pounds (140 million dollars) apart from assuming net debt of about 16 million pounds (19 million dollars) as part of the transaction.

Commenting on the acquisition, Peter Cowgill, Executive Chairman, said in a statement, “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.”

Go Outdoor to complement JD Sports’ interest in outdoor biz

For the 53 week period ended January 31, 2016, Go Outdoors had consolidated revenues of 202.2 million pounds (252 million dollars), an operating profit of 6.1 million pounds (7.6 million dollars), a profit before tax of 4.9 million pounds (6 million dollars) and gross assets of 76.4 million pounds (95 million dollars).

Based in Sheffield, Go Outdoors was originally established in 1998 by Paul Caplan and John Graham and backed by YFM Equity Partners and, latterly, 3i Group. The company has now grown from a single store to become a nationwide omni-channel retailer catering for the outdoor enthusiasts with 58 stores across the UK at acquisition, the majority of which are situated in out of town retail parks.

JD Sports said, this acquisition will complement its 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 of over 155 million pounds (193 million dollars) with 182 stores trading at the year-end.

Picture:Go Outdoors