JD Sports to Acquire Omni-Channel Retailer Go Outdoors
PILSWORTH, UK – JD Sports Fashion Plc, a UK leading retailer of sports, fashion and outdoor brands, took over the 58 shops and webshop of the Go Outdoors chain. “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, including cycling,” said JD Sports’ Exective Chairman Peter Cowgill.
Go Outdoors was originally established in 1998 by Paul Caplan and John Graham and backed by YFM Equity Partners and 3i Group Plc. In the past decade it has grown from a single store to become a nationwide omni- channel retailer catering for the outdoor enthusiast and specialist alike. Go Outdoors retails bicycle brands like BH Bikes, Dahon, Raleigh, Kona and its own brand Calibre together with a wide range of A-branded cycling gear, accessories, parts and components.
Last April Go Outdoors announced a multi-million euro investment in new stores, as well as in-store workshop and personalised fitting. This program was rolled out in the following three months. However yesterday it was announced that following the completion of the take-over the founders, Paul Caplan and John Graham, will leave the company.
The acquisition will complement JD 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 GBP 155 million (182 million euro) with 182 stores at the end of the year. JD Group obtained of the issued share capital of Go Outdoors Topco Limited and paid GBP 112.3 million (131.8 million euro) in cash. For the 53 week period which ended on 31 January 2016, Go Outdoors had consolidated revenues of GBP 202.2 million (237.5 million euro) and an operating profit of GBP 6.1 million (7.2 million euro).