Recent venture capital investment/purchases of some of the major names in the darts industry have led to plenty of speculation as to how these new entities will function and develop as the global darts boom continues. The latest to hit the wires was that Target darts are looking for a buyer and have engaged advisers to assist in an process estimated to be worth up to £200 million.
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However, not for the first time, the rumour mill may be out over it’s skies. Target’s Gary Plummer posted the following on his social media earlier today:
Following recent media speculation, I wanted to provide some clarity.
The strategic partnership opportunities we’re considering are focussed on retaining Target’s market leading position, protecting our independence, and further empowering our current management team to continue to deliver our global growth plan.
Our priority remains the long term success of the business for the benefit of our employees, players, extended Target family and the wider growth of darts as a whole.
We continue to take the advice from the excellent Sports Business Group at Deloitte, and we are excited to explore all opportunities to support and accelerate the next phase of Target’s already rapid growth, and our long-term ambition to grow and enhance the sport of darts worldwide.
Darts Brands In Uncharted Commercial Territory
Now there is no actual denial within those four paragraphs of corporate non-speak. But there is also no confirmation either. The Boardroom team wonders if this may be a leverage play to increase the value of the deal or attract other parties.
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It might however lead to at at least 3 of the top brands in the Darts sector being effectively one company. Fans may have legitimate concern whether the reduction in competition would be in there long term benefit?
An interesting side note might be the status of the Target management entity that has recently signed both Luke Littler and Beau Greaves. Is it part of the main Target company or a separately registered business that would not be part of any merger?
We are sure there is more to come here…
Images: Target
