"Golf has always been a personal passion of mine, so acquiring American Golf feels especially meaningful,"
"It's a brand that truly understands golfers, from beginners to seasoned players, and has played an important role in the UK golf community for decades."
"Joining forces with Peter Jones marks an exciting new chapter for American Golf,"
"It will enable us to continue to accelerate our growth strategy and further our ambition of becoming the ultimate one-stop destination for everything a golfer requires."
Peter Jones has agreed to acquire American Golf from private equity group Endless; financial terms were not disclosed. American Golf was founded in 1978, operates more than 80 stores across the UK, employs over 1,000 staff and generates around £135 million in annual revenues. The business reported losses of £5 million last year and £5.5 million the previous year. Jones, a keen golfer with an eight handicap whose portfolio includes Jessops, plans to strengthen the retailer's digital and online offering as part of a wider turnaround strategy. The deal is described as supporting long-term growth and the ambition to become a one-stop destination for golfers.
Read at Business Matters
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