Retail billionaire Mike Ashley has expanded his sports property portfolio with the purchase of the Streetwise Sports chain.
Ashley, who is considering floating his Sports World kingdom for £2.5bn, is understood to have bought the Streetwise chain to increase his presence in the North.
The chain has a total of 32 stores, including one in Carlisle, Wigan and Manchester.
It is believed the deal will have made multi-millionaires out of Paul and Ian Simpson, founders of the company, who along with their wives own 100% of the shares in Streetwise and its related wholesale companies, Topgrade Wholesale and Topgrade Sportswear.
Streetwise has confirmed to Estates Gazette that the chain had been sold, however it did not disclose who to.
It is not yet known whether the Streetwise will remain its brand or the shops will be converted into Sports Worlds.
References: EGi News 19/12/06
