Dragons’ Den personality Peter Jones has expanded his business portfolio by acquiring the American Golf chain. Known for his passion for golf and playing with a handicap of eight, Jones has struck a deal to purchase the struggling retailer with over 80 outlets from private equity firm Endless.
This acquisition adds to Jones’ diverse business ventures, which include the ownership of camera retailer Jessops since 2013 and investments in brands like Levi Roots’ Reggae Reggae Sauce. He stands out as the sole original Dragons’ Den judge who has remained on the show since its inception in 2005 on BBC.
American Golf, the leading specialized golf retailer in the UK and Ireland, boasts an annual turnover of nearly £135 million. Despite its financial performance, recent reports indicated a loss of close to £5 million for the fiscal year ending January 2025, following a previous year’s loss of £5.5 million. The company attributed these losses to various one-off expenses related to store closures, leases, and workforce reductions. Excluding these exceptional costs, American Golf managed to achieve a profit of £2.2 million.
The challenging market conditions were further highlighted by a decline in golf participation levels in 2024, with an 8% reduction in rounds played in the first half of the year due to adverse weather conditions. However, the business saw an improvement in the second half of the year, buoyed by better weather conditions and robust holiday season sales.
Endless had acquired American Golf in 2018, and the retailer currently employs over 1,000 individuals across its network of physical stores and online platform. The news of the potential deal was first reported by Sky News earlier in the week.
Expressing his enthusiasm for the acquisition, Jones emphasized his personal affinity for golf and the significance of American Golf in the golfing community, catering to players of all skill levels. Nigel Oddy, the CEO of American Golf, welcomed the partnership with Jones’ Investment Group as a new chapter for the company, enabling them to advance their growth strategy and solidify their position as the ultimate destination for all golfing needs. Oddy also expressed gratitude to Endless for their support and investment over the past eight years.