A number of private equity firms have tabled bids for golf specialists American Golf which is up for sale for £80m.

Bridgepoint Development Capital is among the pack vying to snap up the 83 store retailer, according to The Independent.

First round bids for the retailer, which was put up for sale by owner LDC,the private equity arm of Lloyds Banking Group, in May, closed on July 8. Rothschild is advising on the sale.

Sources told the newspaper that there has been strong bid interest in the retailer, which grew sales by 20% to £86.6m in its last financial year.  In its current financial year, like-for-like sales soared 13.9% in its first quarter to May 1.

LDC paid £40m for American Golf in 2004.

Topics