Retail takeover.Retail Takeover: An affiliate of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. private equity firm Leonard Green & Partners LP has agreed to buy Sports Authority Sports Authority is the USA's largest full line sporting goods retailer. The company is headquartered in Englewood, Colorado. It operates over 400 stores in 45 U.S. states under the Sports Authority name. Total sales for the fiscal year ending January 29 2005 were $2.44 billion. Inc. for $1.3 billion and take the country's largest sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport chain private. The affiliate, Green Equity Investors IV LP, which includes current members of Sports Authority's management team, will pay $37.25 per share in cash, a 20 percent premium on the pre-announcement closing price of $31.05. The deal is expected to close in the second quarter of this year. "As a private company, Sports Authority will have greater flexibility to accomplish its long-term goals Long-term goals Financial goals expected to be accomplished in five years or longer. ," said Doug Morton, Englewood, Colo.-based Sports Authority's chairman and chief executive, in a statement. |
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