July 23, 2017 11:02 PM ET

Specialty Retail

Company Overview of Golfsmith International, Inc.

Company Overview

Golfsmith International, Inc. operates retail outlets for golf clubs, golf club components, club assembly tools, and golf accessories for consumers and club makers. It offers golf equipment, merchandise, and training curriculum for consumers and golf club making businesses through its retail super stores, as well as through an online store. The company provides various golf products, including accessories, apparel, balls, carts, club fittings, gifts and games, gift cards, gloves, club grips, bags and travel, home and office, gears, shoes, sunglasses, and videos and books. Golfsmith International, Inc. was founded in 1967 and is based in Austin, Texas. Golfsmith International, Inc. operates a...

11000 North IH-35

Austin, TX 78753-3195

United States

Founded in 1967

Phone:

512-837-8810

Fax:

512-837-1019

Key Executives for Golfsmith International, Inc.

Chief Executive Officer and President
Age: 59
Chief Financial Officer
Age: 52
Senior Managing Director of Omers Private Equity and Director
Age: 56
Compensation as of Fiscal Year 2017.

Golfsmith International, Inc. Key Developments

Motion for Asset Sale Approved for Golfsmith International Holdings Inc.

The US Bankruptcy Court gave an order approving the sale of the certain assets of Golfsmith International Holdings, Inc. on January 19, 2017. The debtor has been authorized to sell its certain assets to B.H. Management, Inc., the stalking horse bidder for a purchase price of $22.15 million in cash. The debtor’s assets include 40-acre campus located in Austin, Texas. The debtor did not receive any other competing bids for the purchase of its assets and therefore B.H. Management, Inc. emerged as the winning bidder.

Notice of Cancellation of Auction Filed by Golfsmith International Holdings Inc.

Golfsmith International Holdings, Inc. filed a notice in the US Bankruptcy Court regarding the cancellation of sale auction of certain assets on January 9, 2017. The debtors did not receive any Qualified Bids and B.H. Management, Inc., the stalking horse bidder was selected as the successful bidder. The debtor’s assets include 40-acre campus located in Austin, Texas. The sale hearing is scheduled for January 17, 2017.

Bidding Procedure Approved for Golfsmith International Holdings Inc.

The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of certain assets of Golfsmith International Holdings Inc. on December 13, 2016. The Court approved the asset purchase agreement between the debtor and B.H. Management, Inc., the stalking horse bidder, for the sale of its certain assets for a purchase price of $22.15 million in cash. The debtor’s assets include 40-acre campus located in Austin, Texas. To qualify as a qualified bidder, interested parties should submit their bids by January 6, 2017. The initial minimum overbid should be at least $1 million more than the initial purchase price along with a good faith deposit equal to 10% of the purchase price. The debtor has scheduled an auction on January 12, 2017. The stalking horse bidder would be entitled to a break-up fee of $0.50 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for January 17, 2017.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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