Dick's Sporting Goods 2007 Annual Report Download - page 9
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79 stores in 29 states
(year end 2007)
Golf Galaxy Stores
2
2
4
3
2
2
3
2
7
4
4
3
2
2
2
Los Angeles
California
7
Augmenting Organic Growth
with Acquisitions
Golf Galaxy
In February 2007, we acquired Golf Galaxy, a leader in the specialty
golf industry, for $226 million in cash. Through this transaction, we
acquired a new format to drive our growth in the highly fragmented
golf industry. We gained 65 stores, helping make Dick’s the largest
specialty golf retailer in the nation. In 2007, we paid off the purchase
price for this acquisition and expanded Golf Galaxy’s presence, opening
16 new locations.
Chick’s Sporting Goods
In November 2007, we acquired Chick’s Sporting Goods, a specialty sport-
ing goods retailer, for $40 million in cash and assumption of $27 million
in debt. This acquisition brought us 15 stores in Southern California,
providing an immediate presence in this region. Chick’s complements
our existing business by serving core athletes and outdoor enthusiasts
with authentic merchandise and excellent customer service. We expect
this acquisition to be marginally accretive in fiscal 2008, and we are
developing plans to expand in California.