JD Sports Fashion has bought Go Outdoors for £112.3m in a move that it says will consolidate its presence in the outdoors market while giving that part of its business a new presence in out-of-town retail parks.
Multichannel retailer Go Outdoors
now trades online and through 58 stores across the UK, having grown from a single store to a nationwide trader.
In the 53 weeks to 31 January 2016, Go Outdoors reported revenues of £202.2m and an operating profit of £6.1m, a profit before tax of £4.9m and gross assets of £76.4m. Both traders are Top100 retailers in IRUK Top500
already owns Blacks, Millets, Ultimate Outdoors and Tiso, an outdoor division that turned over more than £155m through 182 stores in the 52 weeks to January 2016. Most of its existing stores are on the high street.
That's part of the £1.8bn that JD Sports turned over
last year. When it reported its full-year results it said that investments in multichannel retail had helped it to stay ahead of the latest shopping trends. In its acquisition of Go Outdoors, JD Sports emphasises its omnichannel capabilities.
Executive chairman 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 and further strengthens our offering in the Outdoor sector. I am excited by the future prospects this holds for the JD Group."