GENERAL MERCHANDISE NEWS
Several private equity firms show interest in American Golf
18 July, 2011 | by Retail Bulletin
A number of private equity firms have submitted bids for specialist sports retailer American Golf, according to the Independent.
The 83 strong store chain was put up for sale for up to £80 million by owner Lloyds Development Capital, part of Lloyds Banking Group, when Rothschild were appointed as advisers in May.
Bridgepoint Development Capital is reported to be one of the first companies to submit a bid by the first round deadline of 8 July. The firm is part of Bridgepoint which owns Fat Face and Hobbycraft.
LDC bought Amercan Golf for £40 million. The retailer performed strongly in the first quarter of 2011, achieving a 13.8% rise in year-on-year sales.
