Academy Sports + Outdoors Ownership: A Quick Answer

Academy Sports + Outdoors is currently majority-owned by KKR & Co. Inc., a leading global investment firm. However, it’s also a publicly traded company on the Nasdaq stock exchange under the symbol ASO, meaning a portion of the company is owned by a variety of institutional and individual investors.

This ownership structure reflects Academy’s journey from its humble beginnings as a family-owned business to its current status as a major player in the sporting goods retail market.

The Gochman Family Era: Founding and Growth

Academy Sports + Outdoors was founded in 1938 by Max Gochman in San Antonio, Texas. Initially a tire shop, it evolved into a military surplus store before ultimately focusing on sporting goods. The Gochman family maintained ownership and control of Academy for over 70 years, guiding its expansion across the Southern United States.

Under the Gochman family’s leadership, Academy Sports + Outdoors grew from a single store to a regional powerhouse, known for its value pricing and wide selection of sporting goods and outdoor gear. The family instilled a strong customer-centric approach and a commitment to community involvement, values that continue to be a part of Academy’s identity today.

Acquisition by KKR & Co. Inc.

In 2011, Academy Sports + Outdoors was acquired by KKR & Co. Inc., a global investment firm with a diverse portfolio of companies. Private equity firms like KKR often acquire companies with the goal of improving their operations, increasing their profitability, and eventually selling them for a profit.

Several factors likely motivated KKR’s acquisition of Academy, including:

• Strong Market Position: Academy had established itself as a leading sporting goods retailer in the Southern U.S., with a loyal customer base and a recognizable brand.
• Growth Potential: KKR likely saw opportunities to expand Academy’s footprint, improve its operations, and increase its market share.
• Experienced Management Team: Academy had a seasoned management team with a proven track record of success.

Going Public: IPO and Nasdaq Listing

In October 2020, Academy Sports + Outdoors went public through an initial public offering (IPO) on the Nasdaq stock exchange. This move allowed KKR to sell a portion of its ownership stake while still retaining majority control.

Going public offers several potential benefits for companies, including:

• Raising Capital: IPOs can generate significant capital that can be used for expansion, debt reduction, or other investments.
• Increased Brand Visibility: Being listed on a major stock exchange like Nasdaq can increase a company’s visibility and brand recognition.
• Liquidity for Existing Shareholders: Going public provides existing shareholders, such as KKR, with an opportunity to sell some or all of their shares.

Current Ownership Structure

Following the IPO, KKR remains the majority owner of Academy Sports + Outdoors. However, a significant portion of the company’s shares are now held by institutional investors (like mutual funds and pension funds) and individual investors who purchased shares on the open market.

Academy Sports Outdoors is governed by a Board of Directors, which includes representatives from KKR and other experienced business leaders. The Board oversees the company’s management, strategy, and overall direction.

FAQ

1. Who founded Academy Sports + Outdoors? Max Gochman founded Academy Sports + Outdoors in 1938.
2. When did KKR buy Academy Sports + Outdoors? KKR acquired Academy Sports + Outdoors in May 2011.
3. Why did Academy Sports + Outdoors go public? Going public allowed Academy to raise capital for growth and provided liquidity for existing shareholders like KKR.
4. What percentage of Academy Sports + Outdoors does KKR own? KKR maintains a majority ownership stake in Academy Sports + Outdoors, although the exact percentage may fluctuate.
5. Can I buy stock in Academy Sports + Outdoors? Yes, you can buy stock in Academy Sports + Outdoors (ASO) through a brokerage account.
6. Who are the members of the Academy Sports + Outdoors Board of Directors? You can find information about the Board of Directors on the “Investor Relations” section of the Academy Sports + Outdoors website.
7. What is KKR’s investment strategy? KKR is a private equity firm that invests in a variety of industries with the goal of creating value and generating returns for its investors.
8. What other companies does KKR own? KKR has a diverse portfolio of companies across various sectors, including healthcare, technology, and consumer goods.
9. How has KKR’s ownership impacted Academy Sports + Outdoors? KKR has supported Academy’s growth and expansion, while also helping to improve its operations and profitability.
10. What is the future outlook for Academy Sports + Outdoors under KKR’s ownership? Academy Sports + Outdoors appears to be well-positioned for continued growth and success in the sporting goods market.

Conclusion

Understanding the ownership structure of Academy Sports + Outdoors provides valuable context for anyone interested in the company, whether you’re a customer, investor, or potential employee.

From its origins as a family-owned business to its current status as a publicly traded company with private equity backing, Academy’s journey reflects its resilience, adaptability, and commitment to serving the needs of sports and outdoor enthusiasts.