Emerge Commerce, a Toronto-based e-commerce portfolio company, has completed its acquisition of Ontario-based golf retailer Tee 2 Green for $2.2 million.

Tee 2 Green operates two brick-and-mortar retail locations—one at its headquarters in Orillia, Ont., and another in Barrie, Ont.—and sells discount golf apparel and equipment through its stores, roadshows, and online platform.

“The acquisition of Tee 2 Green marks the beginning of our next chapter at Emerge which entails combining our organically growing business with this accretive, profitable, bolt-on acquisition, at favorable terms, and immediate synergies with our golf brand portfolio,” said Ghassan Halazon, Emerge’s founder and CEO.

Founded in 1987, Emerge also owns a private label brand, Northern Spirit. Tee 2 Green is a profitable discount golf apparel and equipment retailer, operating for the past 38 years with a focus on the Canadian market.

The purchase price includes $1.1 million in cash, $900,000 in deferred consideration over five years, and $200,000 in Emerge shares. Emerge also acquired approximately $2.4 million in inventory as part of the deal, to be paid over an eight-year period.

Tee 2 Green joins Emerge’s growing golf portfolio, which includes JustGolfStuff and UnderPar.

As part of the acquisition, Emerge entered into an amended credit facility with its existing lender, extending its term up to 24 months. Tee 2 Green founder Robert Fell will remain involved as a consultant under the new ownership.

Pictured: A golfer uses a golf simulator at Tee 2 Green’s retail location in Orillia, Ont.

Photo: Tee 2 Green/UnderPar

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