JD Sports Fashion Plc Acquisition of Go Outdoors Topco Limited (2383Q)
28 November 2016 - 6:00PM
UK Regulatory
TIDMJD.
RNS Number : 2383Q
JD Sports Fashion Plc
28 November 2016
28 November 2016
JD Sports Fashion Plc
Acquisition of Go Outdoors Topco Limited
JD Sports Fashion Plc ('Group'), the leading retailer of sports,
fashion and outdoor brands, announces that on 27 November 2016 it
acquired 100% of the issued share capital of Go Outdoors Topco
Limited ('Go Outdoors'). Cash consideration of GBP112.3m has been
paid with the Group also assuming net debt of approximately GBP16m
as part of the transaction.
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 Plc, has grown from a single store
to become a nationwide omnichannel retailer catering for the
outdoor enthusiast and specialist alike with 58 stores across the
UK at acquisition, the majority of which are situated in out of
town retail parks.
For the 53 week period ended 31 January 2016, Go Outdoors had
consolidated revenues of GBP202.2m, an operating profit of GBP6.1m,
a profit before tax of GBP4.9m and gross assets of GBP76.4m.
This acquisition will complement the Group's existing
significant interest in the outdoor market through its Blacks,
Millets, Ultimate Outdoors and Tiso businesses which, in the 52
weeks to 30 January 2016 had combined revenues in excess of GBP155m
with 182 stores trading at the year end. The vast majority of the
Group's existing Outdoor stores are situated on the high street and
therefore there is minimal crossover with those of Go Outdoors.
Following completion of this transaction the founders, Paul
Caplan and John Graham, will leave the business.
Peter Cowgill, Executive Chairman, commented:
"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."
Enquiries:
JD Sports Fashion Plc Tel: 0161 767 1000
Peter Cowgill, Executive Chairman
Brian Small, Chief Financial Officer
MHP Communications Tel: 0203 128 8100
Andrew Jaques
Barnaby Fry
Gina Bell
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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