Academy Sports and Outdoors and Selling Stockholders’ $834 Million Secondary Offering

Simpson Thacher advised Academy Sports and Outdoors and entities affiliated with Kohlberg Kravis Roberts & Co. (“KKR”) on the deal.

Kohlberg Kravis Roberts & Co. L.P. (“KKR”) announced a secondary offering of common stock of Academy. 

The offering of 18,645,602 shares of Academy’s common stock raised approximately $834.4 million in gross proceeds, with the selling stockholders receiving all of the proceeds from the offering. Concurrently, Academy effected a $200 million share repurchase from the underwriters of the secondary offering out of the shares sold in the offering. 

Academy is one of the leading full-line sporting goods and outdoor recreation retailers in the United States. 

The Simpson Thacher team included Joe Kaufman (Picture) and Arielle Katzman (Capital Markets); Jennifer Nadborny and Charles Mathes (Public Company Advisory Practice); and Sophie Staples (Tax).

Involved fees earner: Arielle Katzman – Simpson Thacher & Bartlett; Joseph Kaufman – Simpson Thacher & Bartlett; Charles Mathes – Simpson Thacher & Bartlett; Jennifer Nadborny – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Academy Sports & Outdoors; KKR;

Author: Martina Bellini