The Forzani Group Ltd./Le Groupe Forzani Ltee and Nevada Bob’s International Inc. have completed the previously announced acquisition by Forzani of the Canadian business of NBI.
Bob Sartor, C.E.O. of Forzani, commented that “The acquisition of the Canadian Nevada Bob’s trademarks and related licensing agreements gives Forzani an excellent vehicle with which to expand our share of the Canadian golf business, using our existing franchise business infrastructure.” As previously announced, the transaction will add approximately $30 million to Forzani’s system wide sales and is expected to be immediately accretive.
Kevin Baker, C.E.O. of NBI, commented that “The acquisition of the Canadian business of NBI by Forzani will accelerate the expansion of Nevada Bob’s retail presence in Canada and give the Canadian Nevada Bob’s system access to numerous lines of products under the control of Forzani. This transaction will allow NBI to concentrate on its U.S. and International business and expand its presence and product lines, especially in the U.S.”.