JD Sports buys Go Outdoors to expand existing outdoors business
Sports apparel and accessories retail giant JD Sports Fashion on Sunday acquired 100% of the issued share capital of Go Outdoors Topco Limited for £112.3m plus the assumption of around £16m in debt.
JD said the acquisition will complement its existing significant interest in the outdoor market through its Blacks, Millets, Ultimate Outdoors and Tiso businesses.
Sheffield-based Go Outdoors was established in 1998 and has grown from a single store to become a nationwide omnichannel retailer catering for the outdoor enthusiasts and specialists. It has 58 stores across the UK, most of which are situated in out of town retail parks.
For the 53 week period ended January 31, Go Outdoors had consolidated revenues of £202.2m, an operating profit of £6.1m, a profit before tax of £4.9m and gross assets of £76.4m. Meanwhile, JD’s existing outdoors businesses had combined revenues in excess of £155m with 182 stores in the same period.
The vast majority of the group's existing outdoor stores are situated on the high street and so there is minimal crossover with those of Go Outdoors.
Following completion of this transaction, Go Outdoors founders Paul Caplan and John Graham will leave the business.
JD’s executive chairman Peter Cowgill said: "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."
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