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Private-equity firm to acquire Academy Sports
Houston -- New York private-equity firm Kohlberg Kravis Roberts & Co. LP said Tuesday that it plans to acquire a majority stake in Academy Sports + Outdoors, the Katy (Houston), Texas-based privately held sporting goods retailer with 131 locations throughout the Southeast.
Terms of the deal were not disclosed.
According to KKR, Academy Sports' president Rodney Faldyn will stay on as president and will assume the CEO job from David Gochman, who is the grandson of the chain’s founder.
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Confidence up in April
New York City -- Consumers grew more confident in May amid job gains and slightly declining gas prices. The Thomson Reuters/University of Michigan final index of consumer sentiment increased to a three-month high of 74.3 from 69.8 in April.
Economists polled by Reuters had expected the index to be unchanged from the preliminary figure. At the same time, income expectations remained at low levels.
