Atlanta Falcons Owner to Acquire PGA TOUR Superstores

Golf & Tennis Pro Shop, Inc., owner and operator of PGA TOUR Superstores, announced it has reached a preliminary agreement for Golf & Tennis Pro Shop to become a majority-owned subsidiary of AMB Group, LLC. AMB Group is owned by Arthur M. Blank and is also the parent company of the Atlanta Falcons Football Club.


The transaction is subject to shareholder approval and other customary closing conditions and approvals. The terms of the transaction will not be disclosed.


As part of the transaction Noro-Moseley Partners has agreed to continue its support of Golf & Tennis Pro Shop by increasing its investment in the company.


AMB Group and Noro-Moseley Partners have been significant investors in the company since 2004 and 2005, respectively. Certain other current investors may also participate in the transaction.


“We're delighted at the prospect of joining the Blank Family of Businesses,” Golf & Tennis Pro Shop President and CEO Dick Sullivan said. “Arthur Blank has been an active supporter of our business as an investor and board member, and we expect that support will only grow under his increased ownership.”


Golf & Tennis Pro Shop currently operates seven PGA TOUR Superstores in the Atlanta, Dallas and Phoenix metro areas and two Martin's PGA TOUR Superstores in Myrtle Beach.

About The Author

Atlanta Falcons Owner to Acquire PGA TOUR Superstores

Atlanta Falcons Owner to Acquire PGA TOUR Superstores

Golf
& Tennis Pro Shop, Inc., owner and operator of PGA TOUR
Superstores, announced it has reached a preliminary agreement for Golf
& Tennis Pro Shop to become a majority-owned subsidiary of AMB
Group, LLC. AMB Group is owned by Arthur M. Blank and is also the
parent company of the Atlanta Falcons Football Club.

The
transaction is subject to shareholder approval and other customary
closing conditions and approvals. The terms of the transaction will not
be disclosed.

As part of the transaction Noro-Moseley Partners
has agreed to continue its support of Golf & Tennis Pro Shop by
increasing its investment in the company.

AMB Group and
Noro-Moseley Partners have been significant investors in the company
since 2004 and 2005, respectively. Certain other current investors may
also participate in the transaction.

“We're delighted at the
prospect of joining the Blank Family of Businesses,” Golf & Tennis
Pro Shop President and CEO Dick Sullivan said. “Arthur Blank has been
an active supporter of our business as an investor and board member,
and we expect that support will only grow under his increased
ownership. The completion of this transaction will more strongly
position us for continued growth.”

“We believe the prospects are
good for this company,” Blank said. “Our goal is to increase our level
of support for the company by providing human and capital resources for
continued growth.”

Golf & Tennis Pro Shop currently operates
seven PGA TOUR Superstores in the Atlanta, Dallas and Phoenix metro
areas and two Martin's PGA TOUR Superstores in Myrtle Beach. The
company recently announced plans to open its tenth superstore in
Naples, Fla.

About The Author

Thomas J. Ryan

Thomas J. Ryan Senior Business Editor | SGB Media tryan@sgbonline.com | 917.375.4699

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