PARIS — PPR’s mail-order division Redcats said Thursday it has signed an agreement to sell the sports and leisure activities of its U.S. division to Northern Tool + Equipment for an enterprise value of $215 million.
The Burnsville, Minn.-based retailer of tools and power equipment will take control of online outdoor gear and clothing company The Sportsman’s Guide Inc. and online golf retailer The Golf Warehouse Inc., as PPR sheds its retail activities to focus on apparel and accessories in the luxury and sport-lifestyle segments. “The Sportsman’s Guide, The Golf Warehouse and Northern Tool + Equipment would continue to run as stand-alone retail brands and businesses, while benefiting from common commercial opportunities, synergies and large economies of scale,” PPR said.
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