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Angling Direct in talks to make another acquisition

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Angling Direct has confirmed the acquisition of Chapmans Angling for £1.40m.

Angling Direct, the UK”s largest specialist fishing tackle retailer, has today confirmed that it is in advanced talks to make another acquisition.

Responding to media speculation, the Norfolk-based company said it is in discussions with Chapmans Angling, a business that has been established for over 20 years and has stores in Hull and Scunthorpe.

In its announcement to the London Stock Exchange, Angling Direct stressed that there can be no certainty that a transaction will be concluded and added that a further announcement will be made in due course.

If the deal goes through, it will take Angling Direct’s portfolio of retail outlets to 26. Since floating on the Stock Market in July 2017, Angling Direct has made a number of acquisitions, including Fosters of Birmingham, North West Angling, Tacklesavers and Ted Carter Fishing Tackle.

Earlier this week the company announced that it expects to report a 38% increase in revenue to £42m when it presents its full results for 2018 in May.

Filed In: Product News