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11/2016

GO OUTDOORS acquired by JD SPORTS

UNITED KINGDOM Retail / Specialized Retail / Sport EV 100M - 350M GBP

Context

JD Sports acquired 100% of Go Outdoors (>�200m of revenues) from its founders and private equity backers (YFM Equity Partners and 3i Group). The strategic rationale was purely about portfolio complementarity: while JD's existing brands (Blacks, Millets) dominated the traditional "High Street" locations with smaller footprints and higher price points, Go Outdoors dominated the "Out-of-Town" destination market with massive inventory and lower prices. There was minimal geographic overlap between the two estates. This "Hub and Spoke" coverage allowed JD Sports to capture the full wallet of the outdoor enthusiast—from the casual walker buying a jacket in the city center to the family buying a 6-person tent at a retail park. The founders exited the business post-completion.

GO OUTDOORS, which reported an EBITDA margin of in 2016, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Retail & Consumer sector (11.2x).

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Target

Founded in 1998 in Sheffield, Go Outdoors revolutionized the UK outdoor market with a "category killer" supermarket approach. Unlike traditional small high-street shops, Go Outdoors operates massive warehouse-style stores (avg. 30,000 sq ft) located in out-of-town retail parks. It offers a vast range of branded equipment for camping, walking, climbing, and cycling at discounted prices, driven by its popular £5 discount card membership scheme.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (GBP)

Year
Rev
EBITDA
EBIT
2016
2015

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REFERENCES

Valuation range: EV 100M - 350M GBP

Revenue range: 150M - 250M GBP

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of GO OUTDOORS by JD SPORTS are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: jd sports