December 07, 2016 9:01 AM 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 Filed by Golfsmith International Holdings Inc.

Golfsmith International Holdings Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on November 22, 2016. The debtor seeks the Court’s approval for the sale of its certain assets to B.H. Management, Inc., the stalking horse bidder, for a purchase price of $22.15 million in cash pursuant to the stalking horse agreement dated November 22, 2016. Under the terms of the agreement the buyer shall make an earnest money deposit of $0.25 million on the effective date of the stalking horse agreement. If the stalking horse agreement has not terminated on or prior to the inspection period, the stalking horse bidder is required to pay to the debtors an additional earnest money deposit in the amount of $1.97 million. 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.

Golfsmith to Close its Colorado Springs Store

Golfsmith is closing its lone Colorado Springs store. The 25,000-square-foot Springs location, southwest of Academy and Briargate boulevards and part of the Chapel Hills West shopping center, is slated to close by Dec. 29, 2016. A going-out-of-business sale is now underway. The Springs location is one of 59 nationwide that will shut their doors; locations in Golden and Westminster also are slated to close, while an Englewood store will remain open.

Golfsmith International Holdings Inc. to Close Four Ohio Stores

Golfsmith International Holdings Inc. has identified 59 more stores it plans to close as the chain begins to merge with Dick's Sporting Goods Inc. The list of stores slated to close includes four in Ohio: 3695 Easton Market in Columbus; 2720 Towne Drive in Beavercreek outside Dayton; 3737 W. Market St. in Fairlawn outside Akron; and 4063 Richmond Road in Warrensville Heights near Cleveland.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 7, 2016
--
Bankruptcy
September 14, 2016
--
Merger/Acquisition
September 14, 2016
Golf Town Canada Inc.
 

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