FRANCE: Redcats sells Sportsman's Guide and Golf Warehouse
The Redcats mail order unit of French retail group PPR has sold its Sportsman's Guide and The Golf Warehouse businesses, which sell clothing and accessories for outdoor activities including hunting and golf, to Northern Tool + Equipment (NTE) for US$215m.
Redcats has transferred the shares of the two catalogue and internet retailers to NTE, which sells tools and power equipment online, via catalogues and at stores across the US.
The Sportsman's Guide, The Golf Warehouse and NTE are expected to continue to run as standalone retail brands and businesses, while benefiting from common commercial opportunities, synergies and large economies of scale.
The acquisition marks a step forward in the restructuring of PPR as it works to focus on its luxury and sportswear businesses.
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This report provides an update of business news in the following categories: acquisitions, divestments and mergers; company strategies; corporate social responsibility (CSR); financial results; intern...
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