LOS ANGELES, CA – Nogales Investors Fund I, LP recently completed a $4.0 million equity investment in Chick’s Sporting Goods, a large format sporting goods retailer with 11 locations in Southern California. The proceeds from the investment will be used to provide capital for the Company’s continued store expansion. “We are very pleased to partner with Nogales Investors,” said Jim Chick, President of Chick’s Sporting Goods. “Their flexibility and structuring creativity resulted in a successful transaction, and we are excited to work with Nogales Investors to continue our Company’s growth.”
With their investment in G.I. Joe’s, the leading sporting goods retailer based in the Pacific Northwest, Nogales Investors intends to promote sharing of best practices and other value creating activities between the two companies. “We look forward to working with Jim Chick and the staff at Chick’s to develop merchandise and operational synergies,” said Norm Daniels, CEO/President of G.I. Joe’s, “this strategic alliance with Chick’s and Nogales Investors will create great opportunities for both of our companies.” Luis Nogales, Managing Partner of Nogales Investors, added, “we are excited about the investment and the opportunity to leverage Chick’s and G.I. Joe’s respective strengths to create value and maximize strategic alternatives.”
Chick’s Sporting Goods, Inc. engages in the ownership and operation of a chain of sporting goods stores in southern California. It sells apparel and sports equipment for fitness, golf, water, and snow sports; in-line skates, scooter, shoes, ski hardware, soft wear/active-wear, and team sports. Chick’s Sporting Goods, Inc. was founded in 1949 and is based in Covina, California.
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