Big 5 Sporting Goods completes merger with Worldwide Golf partnership

EL SEGUNDO, Calif. - Big 5 Sporting Goods Corporation (NASDAQ:BGFV), which has seen its revenue decline by 8% over the last twelve months to $763 million, announced Thursday the completion of its previously announced merger with a partnership comprised of Worldwide Golf and Capitol Hill Group, making the sporting goods retailer a wholly owned subsidiary of the partnership. According to InvestingPro analysis, the company has been facing significant operational challenges, with an EBITDA of -$53 million in the last twelve months.

Under the terms of the merger agreement, Big 5 stockholders will receive $1.45 per share in cash, representing a premium of approximately 36% to the company’s 60-day volume weighted average trading price prior to the transaction’s announcement.

Following the merger’s completion, Big 5’s common stock will be delisted from the Nasdaq Stock Exchange as the company transitions to private ownership. The retailer will continue operating as an independent company within the Capitol Hill Group portfolio.

"This transaction marks an exciting new chapter for Big 5 that allows the company to carry on its legacy of serving customers with quality sporting goods at an exceptional value while maximizing return for our stockholders," said Steven G. Miller, Chairman, President and Chief Executive Officer of Big 5.

Worldwide Golf operates more than 95 stores across 25 states under various regional brands, while Capitol Hill Group is a Bethesda, Maryland-based private investment firm with diversified holdings including retail businesses.

Ted Shin, CEO of Worldwide Golf and Capitol Hill Group, stated, "Big 5 has a long and rich retail heritage in the Western United States. We believe there is a great opportunity to build off of that legacy and enhance the enjoyment in sports for our current and future customers and communities."

Big 5 currently operates 410 stores across the western United States. The company announced the merger in a press release statement.

In other recent news, Big 5 Sporting Goods Corp. has completed its merger with Worldwide Sports Group Holdings LLC. This transaction was finalized as per the Agreement and Plan of Merger dated June 29, 2025. As a result of the merger, Big 5 has become a wholly owned subsidiary of Worldwide Sports Group. Shareholders of Big 5 had previously approved all proposals related to this merger during a special meeting. Under the terms of the agreement, each share of Big 5 common stock was converted into the right to receive $1.45 in cash. Additionally, all outstanding options, restricted stock units, and restricted shares were canceled and converted into cash payments. The company has also announced its delisting from Nasdaq following the merger. These developments mark significant changes for Big 5 Sporting Goods as it transitions under new ownership.

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