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On another note... I placed an order with GS this
week only to find out that ninety percent of what I wanted was being
discontinued. I don't look for them to be in the component business for
much longer.
Cub
----- Original Message -----
Sent: Wednesday, October 16, 2002 12:21
PM
Subject: ShopTalk: Golfsmith
First Atlantic Capital Ltd., a private investment
firm specializing in
acquiring and growing midsize companies, today bought
a majority interest
in Austin, Tex.-based Golfsmith International. The
purchase price of
Golfsmith, one of the world's largest multichannel
specialty retailers of
golf equipment and components, was not
disclosed.
Jim Thompson, formerly Golfsmith's senior VP of
merchandising and retail
operations, is now president and CEO of Golfsmith.
Company founders Carl
and Frank Paul will have a substantial ownership
position, board
representation and will focus on managing the business'
components
division. Charles Shaw, managing director of First Atlantic,
will become
Golfsmith's chairman.
"We are excited to become part
of First Atlantic's strong portfolio of
companies," Thompson said. "We
believe they can provide the operating
experience necessary to further
expand our existing product lines and
distribution channels, as we increase
our customer base."
First Atlantic plans to accelerate the opening
of new Golfsmith stores
and to expand the company's catalog and Internet
distribution businesses.
Founded in 1967, Golfsmith offers equipment from
leading manufacturers and
its own brands and accessories in its 24
superstores throughout the United
States and Canada, and through
Golfsmith's accessory and clubmaking
catalogs, as well as on its
www.golfsmith.com website.
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