Luke Johnson, 1 of Britain’s greatest-identified leisure entrepreneurs, is incorporating to his selection of e-commerce organizations by snapping up a primary online retailer of musical devices.
Sky Information understands that Hazard Capital Partners, Mr Johnson’s expense car, has agreed to get GAK, which trades from a flagship retailer in Brighton, West Sussex.
The conditions of the deal, which will be announced on Monday, had been unclear.
GAK – which stands for Guitars Amps and Keyboards – generates a lot more than two-thirds of its revenues from on-line profits, but was started by Gary Marshall on a current market stall in 1992.
It sells leading brands this sort of as Fender, Gibson, Roland and Yamaha.
Mr Marshall is retaining a smaller stake in the organization but is handing more than regulate to Threat and GAK’s joint handling administrators, Max Mckellar and Ian Stephens.
A man or woman close to the company stated it was predicted to deliver product sales of £35m and document profits in the course of its present economic yr.
The buy of GAK follows Mr Johnson’s acquisition of the gardening goods site Primrose, which statements to be a single of the top electronic operators in shopper horticulture.
It also cements Chance Capital’s long-standing relationship with Brighton – created by its possession of The Laines Pub Corporation and Small Batch Espresso, while Mr Johnson is also chairman and a important shareholder in Brighton Pier Group, the mentioned leisure business.
Mr Johnson declined to comment.
