Dick's Sporting Goods invests $32M in U.K. retailer
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
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Penguins lose hard-fought game to Blue Jackets in overtime
- Unsung backups provide boost for Steelers defensive line
- Police: 3 killed, 9 wounded in attack at Colorado Planned Parenthood
- $170.4M AmEx charge yields whopping perk for Chinese billionaire
- Town Talk: South Fayette couple welcomes a boy to the family
- Nimble Regal ready for winter with all-wheel drive
- Robert Morris falls to Tennessee Tech, drops to 0-6
- Former Pirates pitcher Happ agrees to $36 million, 3-year deal with Blue Jays
- Gilbert, son of ex-Pitt football standout, commits to Panthers
- Run game needed for balance vs. Seahawks
- Clairton among greatest WPIAL dynasties; Aliquippa, South Fayette close