UK-based sports, fashion and outdoor brands retailer JD Sports Fashion has acquired Go Outdoors Topco for £112.3m.

Under the terms of the transaction, JD Sports has acquired 100% of the issued share capital of Go Outdoors and has assumed net debt of approximately £16m.

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Supported by YFM Equity Partners, Go Outdoors was founded in 1998 in Sheffield by Paul Caplan and John Graham, who will leave the business when the acquisition is complete.

"Go Outdoors is a great addition to our existing Outdoor business."

The company currently operates 58 stores across the UK and retails products for outdoor purposes.

Go Outdoors had consolidated revenues of £202.2m, an operating profit of £6.1m, a profit before tax of £4.9m and gross assets of £76.4m for the 53-week period ended 31 January.

This acquisition will complement the group's existing significant interest in the outdoor market through its Blacks, Millets, Ultimate Outdoors and Tiso businesses, which had combined revenues more than £155m with 182 stores trading at the year end.

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The vast majority of the group's existing Outdoor stores are situated on the high street, so there is minimal crossover with Go Outdoors branches.

JD Sports executive chairman Peter Cowgill 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."