A private equity owner is preparing to sell its niche sports retailer business with over 80 UK stores for £80 million.
The golfing specialist retailer recorded a 20 per cent increase in its sales to £86.6 million for the year to 31 January. For the first quarter of its financial year to 1 May, like-for-like revenues jumped by 13.9 per cent.
Internet sales have shot up by 15 per cent of sales revenues, said to be bolstered by the 2010 acquisition of SW Golf, which operates the onlinegolf.co.uk website.
Nick Wood, American Golf’s chief executive, attributed the improvements to recent good weather and a general increase in people playing golf.
The owner Lloyds Development Capital, the private equity division of Lloyds Banking Group, has drafted in Rothschild to assist with the sale process.
Established by Robert and Howard Bilton in the late 1970s, most of the American Golf stores are located in Scotland and the North West of England. The retailer sells all golf-related equipment and paraphernalia including golf clothing, balls, bags, trolleys, clubs, shoes and gloves.
American Golf transferred ownership when acquired in a management buy-out deal backed by Lloyds Development Capital in 2004.
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