UK retailer of sports and fashion brands, JD Sports Fashion Plc has acquired 100 per cent equity of Go Outdoors Topco for £112.3 million in cash, while also assuming net debt of around £16 million. Go Outdoors is a retailer, catering to the outdoor market and has 58 stores across the UK, a majority of which are situated in out of town retail parks.
According to JD Sports, a majority of its outdoor stores are situated on the high street and so, there is minimal crossover with the Go Outdoors outlets.UK retailer of sports and fashion brands, JD Sports Fashion Plc has acquired 100 per cent equity of Go Outdoors Topco for £112.3 million in cash, while also assuming net debt of around £16 million. Go Outdoors is a retailer, catering to the outdoor market and has 58 stores across the UK, a majority of which are situated in out of town retail parks.#
JD Sports expects that the acquisition will complement its existing significant interest in the outdoor market through its Blacks, Millets, Ultimate Outdoors and Tiso businesses.
For the fiscal ending January 31, 2016, Go Outdoors had reported sales of £202.2 million, operating profit of £6.1 million and net profit before tax of £4.9 million. (AR)
ALCHEMPro News Desk – India
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