Entrepreneur Johnson provides new be aware to e-commerce collection with GAK acquire | Small business Information

Luke Johnson, a person of Britain’s best-acknowledged leisure entrepreneurs, is adding to his assortment of e-commerce firms by snapping up a foremost on line retailer of musical instruments.

Sky News understands that Possibility Money Associates, Mr Johnson’s expense car, has agreed to acquire GAK, which trades from a flagship store in Brighton, West Sussex.

The terms of the offer, which will be declared on Monday, have been unclear.

GAK – which stands for Guitars Amps and Keyboards – generates far more than two-thirds of its revenues from on the net revenue, but was founded by Gary Marshall on a marketplace stall in 1992.

It sells top makes these types of as Fender, Gibson, Roland and Yamaha.

Mr Marshall is retaining a small stake in the small business but is handing over regulate to Danger and GAK’s joint running administrators, Max Mckellar and Ian Stephens.

A human being close to the corporation explained it was expected to create revenue of £35m and document profits throughout its existing monetary calendar year.

The purchase of GAK follows Mr Johnson’s acquisition of the gardening solutions internet site Primrose, which claims to be just one of the main digital operators in purchaser horticulture.

It also cements Possibility Capital’s extended-standing relationship with Brighton – created by its ownership of The Laines Pub Business and Small Batch Espresso, whilst Mr Johnson is also chairman and a major shareholder in Brighton Pier Group, the shown leisure organization.

Mr Johnson declined to comment.