Fishing Republic buys first East Midlands site as group heads south

Have your say

​​​Fishing Republic, one of the UK’s biggest fishing tackle retailers, has bought​ ​Fantackletastic​, a store in Lincolnshire​, as part of its nationwide expansion plans.

​​The Rotherham-based firm, which ​will pay £150,000 for the store, said that ​​Fantackletastic is a well-established local brand in Lincoln, having operated for over 15 years from​ ​the same site on a light industrial estate close to the ​c​ity’s centre.

Catering for all types of fishing​ ​disciplines, it provides ​Fishing Republic with its first presence in the East​ ​Midlands and fits the group’s destination store ​model. In the year to March ​31,​ ​Fantackletastic generated revenues of £425,000 and an operating profit of £40,000.

Following​ ​completion of the acquisition, Fantackletastic’s founder, Adele Would, will remain with the business​ ​​for a period to ensure a smooth handover, with the wider team joining Fishing Republic.

The​ ​acquisition takes the total number of the group’s stores to 11.

Steve Gross, ​c​hief ​e​xecutive of Fishing Republic, ​said:​ ​“I am pleased to announce the acquisition of Fantackletastic, which provides Fishing Republic with a​ ​presence in the East Midlands.

​“​It is a long-established business, with a loyal customer base, and fits​ ​our destination store model.

“We look forward to working with the Fantackletastic team as we​ ​integrate the business within the wider ​g​roup. ​We continue to evaluate opportunities to increase the group’s footprint across the UK.”

​Fishing Republic is cashing in on the craze for fishing following the popularity of programmes such as ITV’s The Big Fish Off.