JD Sports has acquired retailer Go Outdoors for £112m from its private equity owners.
Under the deal, JD Sports will buy the 58-store chain – whose products range from tents to bicycles – from YFM Equity Partners and 3i Group. The purchase will add to JD Sports’ stable of outdoor brands such as Blacks, Millets and Ultimate Outdoors.
As a result of the deal, the Go Outdoors founders, Paul Caplan and John Graham, will leave the business.
JD Sports chief executive, 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 … I am excited by the future prospects this holds for the JD group.”
In the 53 weeks to 31 January 2016, Sheffield-based Go Outdoors had revenues of £202.2m and a pre-tax profit of £4.9m.
In September, JD Sports notched up record half-year profits and announced plans to set up shop in Australia, as well as vowing to press ahead with European expansion despite the Brexit vote.
The company also acquired Next Athleisure in Australia, which trades as Glue, with the deal providing “the platform to open JD in Australia”.
On Brexit, JD said at the time that while the UK’s decision to leave the EU means that there will be some “uncertainties” over the next two or three years, it will press ahead with European expansion.
The group has recently acquired businesses in Portugal and the Netherlands.