SOLD! - GolfSmith bought by GolfTown

[GolfSpy_X]

Golf Town will buy Golfsmith International Holdings Inc. for about $96.5 million, the Canadian retailer said Monday, more than doubling its store base and significantly expanding its presence in the United States.Under the terms of the agreement, the Toronto company will pay $6.10 per share in cash. The offer represents a 30 percent premium over the Austin, Texas, company's Friday closing stock price of $4.71.

Based on Golfsmith's outstanding shares of approximately 15.8 million, the deal is worth about $96.5 million in all.

The sale, if approved by regulators, is expected to close in the third quarter.

Golf Town is owned by Omers Private Equity and operates 54 stores across Canada and seven stores around the Boston area.

Golfsmith sells equipment, clothing and accessories at 85 stores across the United States, as well as through its website and an assortment of catalogues.

It was not clear Monday under which name that the stores included in the deal will operate.

The boards of both companies have approved the sale, along with key Golfsmith shareholders that collectively hold the majority of its shares. As a result, the deal is not subject to further shareholder approval, the companies said.

Source:

http://www.cbsnews.c...r-about-$96.5m/

[GolfSpy WD]

Crap, does that mean I'm going to start being charged sales tax for stuff from Golfsmith?

[bandwagon]

Hope the CS from Golfsmith gets better now. Have had some pretty rotten experiences in the past.

[Addicted2Golf]

Aside from a certain member on this forum, I've never met anyone at Golfsmith that knew much of anything about golf equipment. Pretty pathetic. Hopefully customer service will improve with the acquisition. Otherwise, why the heck would I go to a big box store?

[GolfSpy Barbajo]

Visited two Golf Town stores -- one in Boston, the other in Winnipeg. The Winnipeg store was in line with your average Golfsmith or GG. The Boston store, however, was HUGE, with the wildest selection of stuff I'd ever seen. They had irons from Williams, Honma and other high end ($$$) brands on display, and offered Miura fitting. Prices on balls were the best I've seen anywhere. Didn't spend much time with the staff, however.

 

Impressive,and lots of eye candy to drool over, but still prefer to make big purchases through a smaller shop or my pro fitter/instructor. He did me right with my irons, so why screw with it?

[JohnBarry]

Fast switch, but Martin's Super Stores ( 2 ) in Myrtle Beach are biggest and the best service in a huge store I have ever seen!

[GolfSpy WD]

Visited two Golf Town stores -- one in Boston, the other in Winnipeg. The Winnipeg store was in line with your average Golfsmith or GG. The Boston store, however, was HUGE, with the wildest selection of stuff I'd ever seen. They had irons from Williams, Honma and other high end ($$$) brands on display, and offered Miura fitting. Prices on balls were the best I've seen anywhere. Didn't spend much time with the staff, however.

 

Impressive,and lots of eye candy to drool over, but still prefer to make big purchases through a smaller shop or my pro fitter/instructor. He did me right with my irons, so why screw with it?

 

Which Boston store was this? I've seen some Japanese stuff at the Reading location, but not Miura.

 

Aside from a certain member on this forum, I've never met anyone at Golfsmith that knew much of anything about golf equipment. Pretty pathetic. Hopefully customer service will improve with the acquisition. Otherwise, why the heck would I go to a big box store?

 

I'm not sure anyone would argue folks working at the big box stores know what they're talking about. I've had some very good experiences with Golf Galaxy, but I have to smile and nod when the staff says something absurd like "all stiff shafts are the same stiffness". Big box stores are about price. Some have additional benefits, such as using Trackman fitting, that make them a decent and cheaper option than a real clubfitter fitting for people who aren't low handicappers and thus not always consistent (where good enough really can be good enough). Before I get flamed, a real clubfitter's recommendations are probably far more optimized, but the difference between perfectly optimized and good enough is probably just a few yards. Also you can only truly be optimized if your swing is the same every day, especially at the fitting, which most people are not capable of.

 

That said I wouldn't do a fitting at any store without a good launch monitor, and most big box stores, such as Golf Town, will only fit you for a new set of clubs, not shafts. That probably excludes 90% of the big box stores out there. Again though, even with a good monitor, you have to do your own research and take anything said to you by the sales staff with a grain of salt. At a club fitter, you can put your fate in their hands.

[JMiller]

Fast switch, but Martin's Super Stores ( 2 ) in Myrtle Beach are biggest and the best service in a huge store I have ever seen!

 

Yea, they have ton of product in there think I head it was something in the billion dollar range of stuff. However, they don't have super high end offering in the store for example Miura and the others listed, they were stoking scratch irons for awhile but they shipped them all to a FL store because it wasn't moving well in the MB stores. Plus the LM they have in their now (as of about 4 months ago they changed them in the Broadway store), suck they are not accurate for spin and launch angle, let alone I had real issues getting them to read my SS on a driver of 110+ mph. It seemed to work on distance for the 6 irons that I tested in their at about 95mph so I'm not sure where the breaking point is, but i don't trust the launch angle, the camera is above you don't see how it gets depth perception of something traveling up and out accurately.

 

EDIT: there is only one Miura Dealer in MA

http://miuragolf.com/dealermap.asp#Massachusetts

[Tyk]

The Golfsmith in Kansas City is only a couple years old. They have always done a pretty good job with what I have asked of them, which isn't alot. But they are very accommodating during the day, allowing me to demo clubs and shafts on their monitors for as long as I want.

[GolfSpy Barbajo]

Visited the Golf Town in Watertown, MA. - I think it's in the Arsenal Mall - pretty impressive offering. No idea of they're any good at fitting or if the staff is all that knowledgeable, but it was a great way to kill a few hours before a flight.

[GolfSpy Barbajo]

Re: Miura - they had the wedges out on display, but the the iron sets. Ther was a sign up advertising Miura irons This was this past March.

[GolfSpy WD]

Visited the Golf Town in Watertown, MA. - I think it's in the Arsenal Mall - pretty impressive offering. No idea of they're any good at fitting or if the staff is all that knowledgeable, but it was a great way to kill a few hours before a flight.

 

I'll have to stop by to see them, I'm in there from time to time and took lessons there last year.

[Tony Covey MGS]

Golf Town is absolutely a Miura dealer. As far as I know, they remain the only "big box" store authorized to carry the brand. It will be interesting to see if this means Miura will start trickling into Golfsmith stores as well.

[The Artful Duffer]

Haven't set foot in a Golfsmith in about a year and a half. Last visit didn't exactly leave me with a burning desire to go back and give them my money. Maybe this change will be get me to give them another shot.

[RoverRick]

I have been going to GS since I built my first set of clubs in 1997. The same store. I have been very critical of them of late because of their constant mantra of if the ball travels x distance you need these shafts. However I must admit they allowed me on many occasions to spend as much time as I wanted and about 4 times what my wife wanted on the launch monitor. And while it obviously was not good advice in my case everytime I have had excellent just not expert service except for the last visit.

I was mad enough at them that I did not Order my epoxy from them to install my new shafts. All but two came unglued during the first day of play.

 

However. I have no intention of replacing my current club for a long time.

[Super Tuna]

That said I wouldn't do a fitting at any store without a good launch monitor, and most big box stores, such as Golf Town, will only fit you for a new set of clubs, not shafts.

 

Not true anymore. Golftown now has this idiot proof software that will actually do a head and shaft pairing along with setting adjustments for you for any club in the bag besides a putter.

 

Golf Town is absolutely a Miura dealer. As far as I know, they remain the only "big box" store authorized to carry the brand. It will be interesting to see if this means Miura will start trickling into Golfsmith stores as well.

 

That will be interesting to see. Equally interesting to see will be if they stock those $80 Maruman sets anywhere else.