Group expands division
JD Sports adds Go Outdoors in £128m deal
JD Sports Fashion has added Go Outdoors to its portfolio of operations in the outdoor pursuits sector.
It has paid £128.3m for the business which will join Edinburgh-based Tiso and the Blacks and Millets brands in the division.
The deal involves £112.3m cash and £16m of debt.
Sheffield-based Go Outdoors operates 58 stores, most of which are based in out-of-town retail parks. It was established in 1998 by Paul Caplan and John Graham and backed by YFM Equity Partners and, latterly, 3i Group .
For the 53 weeks to 31 January it made revenues of £202.2m, an operating profit of £6.1m and a profit before tax of £4.9m. It had gross assets of £76.4m.
JD is building a strong presence in the market for walkers, ramblers and campers.
“Go Outdoors is a great addition to our existing outdoor business,” said executive chairman Peter Cowgill.
“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.”