| Business

Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Dick's Sporting Goods invests $32M in U.K. retailer

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By Thomas Olson
Thursday, April 5, 2012

Dick's Sporting Goods Inc. agreed to make a strategic investment of about $32 million in JJB Sports plc, a U.K. sporting goods retailer that has more than 180 stores in the U.K. and Ireland, the Findlay-based retailer said.

The deal comes after Dick's acquired Top-Flite golf clubs and golf ball brands and intellectual property rights from Callaway Golf Co. for $20 million. Both transactions were announced late Wednesday.

In addition to its ownership stake in JJB Sports, Dick's will be entitled to nominate up to two non-executive members of the U.K. company's board.

"This is an exciting strategic investment that provides us with a valuable introduction into the workings of the United Kingdom sporting goods market from an established company that shares our commitment to serving the needs of core athletes," said Dick's CEO Edward Stack.



Show commenting policy

Most-Read Stories

  1. Ex-Penguins defenseman Niskanen still miffed by coaches’ firings
  2. Starkey: Chryst a miserable failure at Pitt
  3. Steelers’ Bell, Chiefs’ Charles elevating running back position in NFL
  4. Pouliot scores in NHL debut as Penguins tame Panthers, 3-1
  5. South Fayette football team distributes Steelers tickets to Carlynton, Wilkinsburg
  6. Pitt players support Rudolph for job
  7. Pitt football fights to overcome steppingstone status
  8. Minor league report: Other prospects on Penguins’ radar
  9. Penn State wins 2nd straight women’s volleyball title
  10. Pair of NYC officers killed in ambush shooting
  11. Energy sector adjusts to global oil plummet
Subscribe today! Click here for our subscription offers.