PPR (Gucci, Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Stella McCartney, Sergio Rossi amongst others) announced today that Redcats has signed an agreement to sell to Northern Tool + Equipment (NTE) the Sports & Leisure activities of Redcats USA consisting of The Sportsman’s Guide, Inc. and The Golf Warehouse, Inc., for an enterprise value of USD 215 million.

The sale of the Sports & Leisure Group of Redcats USA would constitute a further step forward in the transformation of PPR into a global leader in apparel and accessories, within the Luxury and Sport & Lifestyle sectors and in turn would give The Sportsman’s Guide and The Golf Warehouse brands the opportunity to join a strategic partner with activities highly complementary to theirs, thus assuring them with very interesting growth perspectives. 

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.

Founded in 1981 and headquartered in Burnsville, Minnesota, Northern Tool + Equipment (NTE) is a leading global direct-to-consumer retailer selling tools and power equipment through catalogs, the internet and 80 retail stores located in the USA.