Ownership of Academy Sports + Outdoors
Academy Sports + Outdoors is currently owned by private equity firms Kohlberg Kravis Roberts & Co. (KKR) and Vestar Capital Partners. In 2011, KKR and Vestar Capital Partners acquired Academy from an investment group led by Mercury General Corp.’s chairman George Joseph for $1.2 billion in an all-cash transaction.
Background and Locations
Academy Sports + Outdoors is an American sporting goods discount store chain with corporate offices in the Katy Distribution Center in unincorporated western Harris County, Texas, near Houston. The company was founded in 1976 and has 131 locations throughout 11 states in the Southeast U.S. with approximately 16,000 associates. The privately held retail chain generated more than $2.7 billion in revenue in 2010.
Acquisition Details
KKR acquired Academy Sports in a leveraged buyout in 2011. This stake represented 20.1 percent of the shares outstanding, making KKR the company’s largest shareholder.