With intentions of stimulating future growth it was announced today that retailers Golf Town and Sporting Life have merged to form the Sporting Life Group Limited.
The plan will see both retailers maintain their individual identities and operate separately but, according to a news release, “jointly invest in key people, technology and supply chain to enhance future profitable growth and synergies.”
It seems to be a natural progression for both brands with Golf Town having been acquired by Fairfax Financial Holdings Limited, with involvement by Signature Global Asset Management, a division of CI Investments Inc., in 2016.
Fairfax was founded by David Russell and Patti Russell, who were owners of Sporting Life and remain involved with the Sporting Life Group.
Sporting Life is a sports and lifestyle retailer that currently operates 11 locations in Ontario ans Alberta and expanded into Quebec just last week with a new 27,500 square foot store. They have plans another major store in the Vancouver area in 2019.
Golf Town currently operates retail 47 locations and is Canada’s leading golf retailer. They will look to debut their next generation of retail locations with a store in Richmond, B.C. in 2019.
David Russell, Chief Executive Officer and Co-founder of Sporting Life, is bullish on the cooperative future of each brand, noting their seasonal strengths.
“Sporting Life experiences its strongest sales in the winter months, while Golf Town experiences its strongest sales in the summer months. We believe this to be a natural ‘hedge’ allowing both companies strong profitable performance throughout the year.”
“Enhancing our people, technology and supply chain while obtaining synergies will allow for a streamlined, profitable roll out of our expansion plans. We intend to add stores in B.C beyond Brentwood, more in Alberta, Ontario and Quebec, and to enter Manitoba,” Russell added.
The Golf Town team asserts that this merger will help their strategy push forward at an accelerated rate.
“Since the acquisition of Golf Town in 2016, we have invested in Canada on people, technology and our stores,” said Chad McKinnon, President of Golf Town. “This merger will accelerate that investment and open up new opportunities for our brand and our people, while maintaining the separate identity and teams of both brands.”
As part of the merger the Senior Executive team of the Sporting Life Group will include familiar names from both companies. They will include: David Russell – Chief Executive Officer of SLG, Chad McKinnon – President of SLG
Patti Russell (Co-founder of Sporting Life), Executive Vice President and Chief Brand Officer of SLG, and
Frederick Lecoq – Chief Marketing Officer of SLG.
The new company says current management teams of each brand will stay the same.