JD Sports acquires Go Outdoors chain

JD Sports Fashion has acquired outdoor pursuits retail chain Go Outdoors for £128.3m from owners that include private equity group 3i.

JD has paid £112.3m cash and assumed £16m of debt to purchase Sheffield-based Go Outdoors, which operates 58 stores, most of which are based in out-of-town retail parks.

For the 53 weeks to 31 January 2016, Go Outdoors made revenues of £202.2m, an operating profit of £6.1m and a profit before tax of £4.9m, it had gross assets of £76.4m at the year end.

JD already has a significant presence catering to walkers, ramblers, campers and other outdoorsfolk, through its Blacks, Millets, Ultimate Outdoors and Tiso brands.

"Go Outdoors is a great addition to our existing outdoor business," said executive chairman Peter Cowgill.

"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."