JD Sports Fashion, 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, a nationwide omnichannel retailer catering for the outdoor enthusiast and specialist alike with 58 stores across the UK.
Cash consideration of €131.4m (£112.3m) has been paid with JD Sports Fashion also assuming net debt of approximately €18.7m (£16m) as part of the transaction.
For the 53 week period ended 31 January 2016, Go Outdoors had consolidated revenues of €236.6 (£202.2m), an operating profit of €7.1 (£6.1m), a profit before tax of €5.7m (£4.9m) and gross assets of €89.4 (£76.4m).
This acquisition will complement JD Sports Fashion'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 €181.4m (£155m) with 182 stores trading at the year end.
Peter Cowgill, Executive Chairman of JD Sports Fashion, 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."
