Northern Tool + Equipment to Buy Redcats USA Sporting Brands for $215 Million

Nov 10, 2012 1:22 AM  By

The PPR Group, a French retail and luxury group, announced that it has agreed to sell off two of its
Redcats USA brands to Northern Tool + Equipment for $215 million pending regulatory approval.

The two sporting brands are The Sportsman’s Guide and The Golf Warehouse, both of which will continue to run as stand-alone retail brands, according to a statement from PPR.

“We were drawn to both companies being family-run institutions with strong management,” said Chuck Albrecht, president, Northern Tool + Equipment, in a press release.

According to an article in the Wall Street Journal, the move comes by way of a long term strategy shift at PPR. The company, the publication states, is trying to reshape its business around luxury and sporting brands “while shedding its low-growth retail branches.”

According to a press release from Northern Tools, there will be no job cuts as a result of this acquisition and the transaction should be finalized within a year.