January 23, 2017 2:49 PM ET

Specialty Retail

Company Overview of Golfsmith International Holdings Inc.

Company Overview

Golfsmith International Holdings, Inc. operates as a specialty retailer of golf and tennis equipment, apparel, footwear, and related accessories. Its stores offer branded clubs, balls, apparel, and accessories, as well as its proprietary-branded products, including Clubmaker, Golfsmith, Killer Bee, J.G.Hickory, Lynx, Profinity, Snake Eyes, TourTrek, XPC, Zevo, Maggie Lane, MacGregor, and ZTech. The company’s stores also provide club components, clubmaking tools, supplies and on-site clubmaking, custom club-fitting, and club repair services; and hitting areas, putting greens, ball-launch monitor technology, and club demos. In addition, its stores offer golf lessons, and precision club-fitting...

11000 North IH-35

Austin, TX 78753-3195

United States

Founded in 1967

791 Employees

Phone:

512-837-8810

Fax:

512-837-1245

Key Executives for Golfsmith International Holdings Inc.

Chief Executive Officer and Director
Age: 66
Co-Founder
Age: 76
Co-Founder
Co-Founder
Chief Financial Officer
Compensation as of Fiscal Year 2016.

Golfsmith International Holdings 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 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
Merger/Acquisition
November 22, 2016
40 Acre Campus in Austin, Texas
Merger/Acquisition
November 7, 2016
--
Bankruptcy
September 14, 2016
--
 

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