ANGLING DIRECT SNAPS UP FOSTERS OF BIRMINGHAM
£3 million deal will take new owners’ UK store count to 17
ONE of the UK’s biggest tackle dealers has acquired an online retailer and tackle superstore.
Angling Direct PLC bought Fosters of Birmingham for £3m to take its total number of UK stores to 17.
The tackle giant has taken on the 17,000 sq ft shop in order to expand its business, which generated revenues of £5.9m in the year to March 2017.
Angling Direct CEO Darren Bailey told Angling Times: “Fosters is a long-established and very successful business with a loyal customer base and knowledgeable team.
“The acquisition will be earnings-enhancing from day one and validates Angling Direct’s long-term strategy, which is to consolidate the fishing tackle market while expanding our business through acquisition.”
“Fosters is a successful business with a loyal customer base”