JD Sports Fashion said it bought Go Outdoors for about £112.3 million from its private equity buyers.

JD Sports said the acquisition will complement its existing interest in the outdoor retail market through its Blacks, Millets, Ultimate Outdoors and Tiso businesses.

These businesses had combined revenues in excess of £155 million in the 52 weeks to January 30, 2016.

Based in Sheffield, Go Outdoors was originally established in 1998 by Paul Caplan and John Graham and backed by YFM Equity Partners and, latterly, 3i Group.

Go Outdoors has grown from a single store to become a nationwide retailer catering for outdoor enthusiasts and specialists with 58 stores across the UK.

For the 53 week period ended January 31, 2016, Go Outdoors had consolidated revenues of £202.2 million, operating profit of £6.1 million, profit before tax of £4.9 million and gross assets of £76.4 million.

Paul Caplan and John Graham will leave the business following the deal.

JD Sports executive chairman Peter Cowgill said:  “Go Outdoors is a great addition to our existing outdoor business.

“The minimal overlap in store locations and their out of town, one stop retailer approach complements the work we have done on the high street with Blacks and Millets and further strengthens our offering in the outdoor sector.

“I am excited by the future prospects this holds for the JD Group.”