Drummond Golf is up for sale. So what’s on the market? A master franchise for the store network, a master franchise for the Big Swing Golf simulator business, and the e-commerce arm.
Drummond Golf has more than 150,000 monthly visits to its 50 retail stores, delivering the business a 30 per cent market share, and over 250,000 online monthly visitors.
Lion Advisory is leading the sale process and is reportedly approaching buyers from private equity, sports and leisure retailers, and golf fanatics.
The Australian Financial Review reports Lion is also seeking buyers for Drummond’s interests in 10 company-owned stores and a 55 per cent shareholding in wholesale business Golf Works for which Drummond Golf is the major customer.
Brothers Mark and Ravi Abeyaratne have owned the 50-year-old Drummond business alongside minor shareholders since 2002.
Franchise network revenue rose over the 22-year-period from $14 million to $200 million, according to the AFR.
Drummond has a strategy to take earnings from the current EBITDA of $8 million to $10 million by 2026. The plan includes launching the brand in New Zealand, further Australian store expansion and adding Big Swing Golf simulators into more existing stores.
