BBC Dragons’ Den star Peter Jones has swooped in to snap up the American Golf chain.
The entrepreneur – a keen golfer said to play off a handicap of eight – agreed to buy the loss-making retailer from private equity group Endless, its owner since 2018.
Set up in 1978, the chain is the UK’s largest golf retailer with 80-plus stores, including locations in Belfast, Blanchardstown and Cork, and more than 1,000 staff.
The company has an annual turnover of £135m but made losses of £5m last year, following a loss of £5.5m over the previous 12 months.
Jones, whose business empire also includes the Jessops camera chain, said: “Golf has always been a personal passion, 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.”
American Golf chief executive Nigel Oddy added: “Joining forces with Peter Jones marks an exciting new chapter for American Golf.
A general view of signage for an American Golf, golf clubs, equipment, shoes and clothing retail store at Lakeside Retail Park on February 5, 2024 in Grays, United Kingdom. (Pic: John Keeble/Getty Images)
“It will enable us to continue to accelerate our growth strategy, and further our ambition of becoming the ultimate destination for everything a golfer requires. I’d like to thank Endless for their support, custodianship and investment over the past eight years.”