New York.- Mike Ashley’s athletic apparel emporium might be expanding soon, as reports broke Friday on his interest to snap American Golf.
Sports Direct would be reportedly in takeover talks regarding Britain's biggest specialist golf retailer. As reported by Sky News, Sports Direct International would be just one of a few interested parties which tabled offers this week as American Golf's current owner seeks a rapid sale.
Sun European Partners, a private equity group, has owned American Golf since 2012. Sun acquired the business from LDC, the investment firm owned by Lloyds Banking Group, during a period of growing golf participation in the UK. Almost seven years later, American Golf Discount Centre Limited’s accounts for the period ended 22 January 2017 reveal that UK participation in the sport "decreased around 8.9% in 2016, following several successive years of decline".
Nevertheless, people close to the investment firm cited by British media insisted that the business is being marketed on a solvent basis and not as a pre-pack administration. Deloitte, which is handling the auction, is said to be keen to wrap up a deal as early as next week.
American Golf trades from more than 130 stores across the UK and Ireland and sells brands including Callaway, TaylorMade, Titleist and Wilson.