Dragons’ Den star Peter Jones has bought the UK and Ireland’s leading specialist golf retailer, American Golf, from private equity firm Endless.
The 59-year-old serial entrepreneur is a keen golfer and said his latest purchase was ‘especially meaningful’.
He said: “It’s a brand that truly understands golfers – from beginners to seasoned players – and has played an important role in the golf community for decades.
“From an investment perspective, American Golf has the opportunity to become a global market-leading retailer because it has an extremely strong brand and a very loyal customer base.
“It aligns perfectly with our investment strategy of backing established businesses that have clear long-term growth potential.
“I see a significant opportunity to invest in the brand, the customer experience and the way the business evolves to meet the needs of modern golfers.
“I’m excited to help build on its heritage and shape a strong, sustainable future for American Golf.”
The Dragons’ Den star’s other business interests include the iconic UK photography retailer Jessops and Localised, a local-first e-commerce for brands expanding globally.
Nigel Oddy, CEO of American Golf, said: “Joining forces with Peter Jones and his investment group marks an exciting new chapter for American Golf.
“It will enable us to accelerate our growth strategy and further our ambition of becoming the ultimate one-stop destination for everything a golfer requires. This next chapter is going to be a very exciting one”
Endless acquired Warrington-based American Golf in 2018, following an accelerated sale process completed in only two weeks.
Alvarez & Marsal acted as the lead financial advisor to Endless on the sale.
Jonathan Boyers, head of corporate finance for EMEA at Alvarez & Marsal: said: “American Golf is the UK and Ireland’s leading specialist golf retailer, with an annual turnover of £135m.
“It was acquired by Endless in 2018 and currently employs more than 1,000 people across its omnichannel operation, which consists of more than 80 bricks-and-mortar stores in the UK and Ireland alongside its online offering.
“I first started working with American Golf years ago and so it really is pleasing for my team at Alvarez & Marsal corporate finance to help achieve this excellent outcome for the business and its shareholders.”
Jones is the only ever ever present Dragon on Dragons’ Den.