GO Outdoors stores are mainly on out-of-town sites

One of the UK’s fastest growing outdoors store chains has been snapped up by an established retailer.

JD Sports confirmed on Monday it had acquired GO Outdoors, the Sheffield-based chain that operates 58 stores across the country, for £112m.

Rumours of the takeover of the private-equity backed out-of-town retailer have been circulating in the outdoor trade most of the year.

GO Outdoors’ founders Paul Caplan and John Graham will leave the company, JD Sports said.

JD Sports owns the Blacks, Millets, Tiso and Ultimate Outdoors chains, as well as sports shops under its own and 13 other names. Pentland Group, which owns the Berghaus brand, is a majority shareholder in JD Sports.

GO Outdoors has grown from one to 58 stores

Peter Cowgill, executive chairman of JD Sports, said: “GO Outdoors is a great addition to our existing outdoor business.

“The minimal overlap in store locations and their out-of-town, one-stop retailer approach complements the work we have done on the high street with Blacks and Millets and further strengthens our offering in the outdoor sector.

“I am excited by the future prospects this holds for the JD Group.”

GO Outdoors was originally established in 1998 by Paul Caplan and John Graham and backed by YFM Equity Partners and, latterly, 3i Group. It has grown from a single store to become a nationwide retailer catering for outdoor enthusiasts with 58 stores across the UK, most of which are situated in out of town retail parks.

For the year ended January 2016, the company had revenues of £202.2m, an operating profit of £6.1m, a profit before tax of £4.9m and gross assets of £76.4m.

The takeover deal by JD Sports includes an agreement to take on £16m of GO Outdoors debt.