Emerge Commerce Inc., a Toronto-based online shopping promotions company, is expanding its U.S. leisure footprint with the purchase of golfing promoter The UnderPar Group, the companies said.
The $12 million deal for UnderPar, also based in Toronto, will add its forecast $30 million revenue this year to Emerge as it seeks to build on its stable of e-commerce sites including WagJag.com, Buytopia.ca and Shop.ca, the companies said in statement on Wednesday.
“In UnderPar, we’re acquiring a tremendously profitable, growing market leader in the lucrative golf deals space,” Ghassan Halazon, Emerge founder and CEO, said in the statement. Halazon championed UnderPar’s “remarkable” revenue growth “with practically no outside capital” as the “rare breed of disciplined profitable businesses” it seeks.
The companies are betting on the continued expansion of online retailing to disrupt the leisure industry in what’s traditionally been a bricks-and-mortar approach to customers in pro shops and golf clubs.
