Dragons’ Den personality Peter Jones has expanded his business portfolio by acquiring the American Golf chain. Known for his love of golf, Jones, with a reported handicap of eight, has struck a deal to purchase the struggling retailer, which boasts over 80 outlets, from private equity firm Endless.
This latest acquisition adds to Jones’ diverse investment portfolio, including the camera chain Jessops, acquired in 2013, and stakes in brands like Levi Roots’ Reggae Reggae Sauce.
As the sole remaining original Dragons’ Den judge since the show’s launch on BBC in 2005, Jones continues to make strategic business moves. American Golf, the leading specialist golf retailer in the UK and Ireland, generates an annual turnover close to £135 million.
Despite its strong position in the market, American Golf faced financial challenges, posting a loss of nearly £5 million for the fiscal year ending January 2025, following a £5.5 million loss the previous year. The company attributed these losses to exceptional costs related to store closures, leases, and redundancies. Excluding these one-off expenses, the business managed to achieve a profit of £2.2 million.
The company acknowledged a softening in golf participation levels in 2024, with a notable 8% decline in rounds played during the first half of the year, largely due to adverse weather conditions across the UK. The overall UK golf retail market also shrank by an estimated 2.5% during this period.
However, the company reported a turnaround in the latter half of the year, driven by improved weather conditions and robust gifting sales leading up to the festive season. Endless acquired American Golf in 2018, and the retailer currently employs over 1,000 staff across its network of 80+ physical stores and online platform. Speculation about the acquisition surfaced following reports by Sky News on Monday.
Expressing his enthusiasm for the acquisition, Jones stated, “Golf has always been a personal passion of mine, so acquiring American Golf feels especially meaningful. It’s a brand that truly understands golfers at all levels and has been a significant part of the UK golf community for many years.”
Nigel Oddy, the chief executive of American Golf, echoed this sentiment, remarking, “Teaming up with Peter Jones and his Investment Group marks an exciting new chapter for American Golf. This partnership will facilitate our continued growth strategy and drive us toward our goal of becoming the ultimate one-stop shop for golfers’ needs. We extend our gratitude to Endless for their support and investment over the past eight years.”
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