Golf Galaxy is a leading large format golf retailer operating “big box” stores and an e-commerce website, offering a complete selection of brand name equipment, apparel and accessories, in addition to equipment repair, PGA-certified lessons and other services.
FdG made a growth equity investment in Golf Galaxy, a rapidly growing specialty retailer of golf equipment, accessories, apparel and services, in July 1999. The Company’s objective was to become the leading golf retailer in the U.S. by combining the advantages of a high-energy superstore format (e.g., large selection of brand-name products and every-day low prices) with the superior sales assistance and golf-related services typically available only from pro shops.
The Minneapolis, Minnesota-based Company, which had ten stores at the time of the transaction, had a very strong management team with demonstrated experience in developing and rolling out “big box” retail concepts. Following our investment, Golf Galaxy continued to refine its Everything for the Game product offering and customer experience as it aggressively grew its store base. It focused on opening multiple stores in markets with strong demographics and high rates of golf participation and also continued to expand and enhance its fully transactional website as a complement to its retail operations.
After having grown to 65 stores in 24 states and executing a successful IPO in July 2005, Golf Galaxy was acquired by Dick’s Sporting Goods in February 2007.