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NEWS


Tacklesaver and North West Angling Centre purchased by Angling Direct. Stephen Gross ousted as CEO of Fishing Republic and replaced by SuperDry supremo. Erics Angling shows stock market fi rms the door. Buying groups being resurrected. It’s a dangerous game… who will be the fi rst to crack?


A


ngling Direct has acquired the stock and goodwill of North West Angling Centre and Tacklesaver for a total consideration of £450,000 payable in cash, plus stock at valuation. In the year to 31st March 2017, NWAC and Tacklesaver generated revenues of circa £1.8 million.


These latest acquisitions increase Angling Direct’s presence in the North West of the country and takes the total number of Angling Direct stores to 20, with more opening shortly. Darren Bailey, CEO of Angling


Direct, commented: “Both North West Angling Centre and Tacklesaver are long-established and very successful businesses with a loyal customer bases and knowledgeable team. The acquisition will be earnings enhancing from day one and validates


6 | Tackle & Guns | Dec / Jan 18


Angling Direct’s long-term strategy - to consolidate the fi shing tackle market whilst expanding our business through acquisition into new areas of the country with a strong angling demographic. “Angling Direct continues to trade


strongly and in line with the Board’s expectations. We look forward to working closely on the integration and development of the newly acquired stores and expect them to improve their contribution to the Company’s positive trading outlook over the coming months.” Angling Direct’s board outlook differs


wildly from that of Fishing Republic – one painting a rosy picture and the other possibly a more realistic scenario. We will have to wait until the fi nal year end results to fi nd out the real


truth – but one thing is for sure, with so many parties giving away stock and making no money – or worse still, a loss on every sale, it doesn’t take a rocket scientist to work out that there will be some serious casualties. Could buying groups be the saviour of the trade and level the playing fi eld... there’s plenty of talk, so let’s see!


We want your opinions on this. Just how damaging is it to your business and where do you see it ending? All correspondence on this matter will be treated with the strictest of confi dence.


Please send us an email at: nickmarlow72@gmail.com, or give us a call on 07967 507996.


Tackle & Guns is here for you! www.tandgmagazine.com


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