Investment firm Sun Capital Partners Inc. has acquired multi-channel retailer Edwin Watts Golf Shops LLC and expects to see continued growth across the retailer’s web, store and catalog operations, Sun Capital said today. Sun Capital acquired the retailer from Wellspring Capital; terms were not disclosed.
“We’re not planning any major change in the pace of growth, but looking to continue growing moderately,” Anthony Palozzi, vice president of Sun Capital Partners, tells InternetRetailer.com. “The retailer recently went through some redesigns of online operations, so we feel that should result in some improvement in the business at EdwinWattsGolf.com.”
Edwin Watts Golf, based in Fort Walton Beach, FL, does about 20% of its $200 million in sales through its direct channel, which includes the annual distribution of about 1 million copies of its catalog in addition to EdwinWattsGolf.com. The company doesn’t break out web and catalog sales.
The retailer operates 60 company-owned stores and has six franchise locations and is expecting to open three to four stores this year and five to seven stores next year, Palozzi says.
Edwin Watts will remain as the retailer’s president and CEO. “We are extremely pleased with our affiliation with Sun Capital, which has the requisite financial resources and deep retail experience to help strengthen our operations and build out our footprint in suitable locations,” Watts says.