TYCOON OUTGUNS NYC RIVAL
Reclusive British billionaire Mike Ashley appears to have landed a knockout blow in his first business deal in the U.S.
Ashley, 42, who made his money by growing a small discount sporting goods store started when he was a teen into the country’s largest retail sporting goods chain, appears to have wrapped up a $182 million deal for Everlast.
While the Hidary Group, which had first inked a deal with Everlast to buy the 97-year-old company for $146 million on June 1 – only to lose out to Ashley in back-and-forth bidding – could come back with a surprise offer, Sports Direct appears to have picked up a fast-growing brand with worldwide appeal.
It would be the latest in a string of acquisitions for Ashley.
The seldom-seen tycoon bought the Premier League’s Newcastle soccer team last month at the same time he bought a 5 percent stake in the company that controls the Atomic and Salomon ski brands.
Ashley added that to a stable that already included Slazenger, Donnay, Dunlop and Lonsdale.
The billionaire has had much less luck with his shares. They debuted in February at 300 pence but have slumped, closing Friday at 187, up 10.25.