Business magnate and Dragons’ Den star Peter Jones has expanded his business portfolio by acquiring the American Golf chain. Known for his passion for golf, Jones, with a handicap of eight, has struck a deal to purchase the struggling retailer from private equity firm Endless, which operates over 80 branches.
This latest acquisition adds to Jones’ diverse business ventures, including the camera chain Jessops, acquired in 2013, and investments in brands like Levi Roots’ Reggae Reggae Sauce. As the sole remaining original judge on Dragons’ Den since its debut on BBC in 2005, Jones continues to make strategic business moves.
American Golf, the leading specialist golf retailer in the UK and Ireland with an annual turnover close to £135 million, faced financial challenges with reported losses of nearly £5 million in the most recent fiscal year. The business attributed these losses to one-off expenses related to store closures, leases, and staff redundancies. Despite this, the company managed to generate a profit of £2.2 million excluding these exceptional costs.
The company acknowledged a decline in golf participation levels in 2024 due to adverse weather conditions, leading to an 8% decrease in rounds played in the first half of the year. However, trading performance improved in the latter part of the year, driven by favorable weather and robust gifting sales during the Christmas season.
Endless had acquired American Golf in 2018, and the retailer currently employs over 1,000 individuals across its network of 80 physical stores in the UK and Ireland, in addition to its online presence. Speculations about the acquisition deal were first disclosed by Sky News.
Expressing his enthusiasm for the acquisition, Jones stated, “Golf has always been a personal passion of mine, so acquiring American Golf feels especially meaningful. It’s a brand that truly resonates with golfers of all levels and has been a cornerstone of the UK golf community for years.”
Nigel Oddy, the CEO of American Golf, expressed excitement about the partnership with Peter Jones and his Investment Group, heralding a new chapter for the company. The collaboration is expected to drive the retailer’s growth strategy and reinforce its position as the go-to destination for all things golf-related. Oddy also extended gratitude to Endless for their support, stewardship, and investments over the past eight years.
