Santa Ana-based Worldwide Golf Enterprises Inc. acquired Edwin Watts Golf Shops LLC, a retailer in Ft. Walton Beach, Fla. that filed for bankruptcy late last year.
Worldwide Golf bills itself as one of the largest discount golf-equipment retailers in the U.S. and operates through a handful of business lines, including Roger Dunn Golf Shops, Golf Mart and Van’s Golf Shops.
The Edwin Watts deal was reportedly priced at $40 million.
The winning bid came from a joint venture between GWNE Inc., an affiliate of Worldwide Golf, and Hilco Merchant Resources LLC, a Chicago-based financial services firm.
The latest acquisition brings about 50 stores in the Southeastern U.S., Texas and Utah into Worldwide Golf’s operations for a total of about 85. The company now operates in 13 states, seven of them as a result of the deal. Privately held Worldwide Golf doesn’t release financial details.
—Jane Yu
