(Adds details, background)
* Sale is for an enterprise value of $215 million
* Deal should be finalised before the end of the year
* Deal is first step toward planned sale of Redcats
PARIS, Nov 8 French retail and luxury group PPR
said on Thursday that its mail order unit Redcats had
agreed to sell its U.S.-based Sports & Leisure business, as part
of long-running efforts to refocus PPR's activity on luxury
Redcats USA plans to sell The Sportsman's Guide, Inc, and
The Golf Warehouse, to retailer Northern Tool + Equipment for an
enterprise value of $215 million, the statement said.
The deal, which is the first step in PPR's planned sale of
all of Redcats,follows last month's announcement of plans to
spin-off PPR's Fnac music and book unit and last year's sale of
the Conforama furniture unit.
The deal should be finalised before the end of the year, PPR
said in a statement.
Redcats USA acccounts for about one-third of Redcats
revenue, a PPR spokesman said.
Redcats USA also owns a plus-size fashion business, which is
roughly twice as big as the Sports & Leisure business it is
selling, he said.
Last month PPR said the process for the disposal of Redcats
was under way and that all options were being
(Reporting by Dominique Vidalon; Editing by Christian Plumb)