Fishing Republic lands Lincoln store

Retailer Fishing Republic has thrown its line out for an independent East Midlands business, marking the first entry into the region for the fishing specialist.

It has acquired the business and assets of sole trader Adele Would, who operates as Fantackletastic in Lincoln.

The 15-year old brand, operating  from a 4,000 sq ft site in a light industrial estate near the city centre, was bought by Fishing Republic for £150,000.

It will be Fishing Republic’s first foray into the East Midlands, and fits the group’s ‘destination store’ model.

In the year to 31 March 2016, Fantackletastic generated revenues of £425,000 and an operating profit of £40,000.

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, chief executive 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 Group.

“We continue to evaluate opportunities to increase the Group’s footprint across the UK.”