The Champion Sports Group has been acquired by investment vehicle PCP One, which is led by John Quinn. Industry sources say the deal is worth €60m.
The sports chain includes 17 retail outlets, located in prime retail locations around the country.
The PCP one consortium includes a small number of Irish investors, including Bernard Somers. PCP said the deal presents a significant opportunity for the further development and expansion of the Champion Sports Group.
The group's management team will remain in place after the deal - which is subject to Competition Authority approval - is completed.
The consortium plan to 'significantly increase' the scale of the business, which will see an increased rollout of stores in large population centres around Ireland. This growth plan will be funded by PCP One and Anglo Irish Bank.
