Lifestyle Sports bought for €40m
Stafford Holdings, the family- owned fuel and property group whose interests include Campus Oil and Actons Hotel in Kinsale, said it wanted the 71-strong Lifestyle chain of sports shops to diversify its interests and give it access to a high-growth retailing sector.
Lifestyle, which recorded pre-tax profits of €5.5 million in the year to October 2004 and employs around 900 people, was the subject of a management buyout from the Tesco group in 1997. Seven directors, backed by venture capital group ACT, took control of the company and built up revenues from €38m in 1997 to €145m this year.
