EMERGE Acquires UnderPar for $12 Million
Adding a Profitable Market Leader in Discounted Golf Experiences
EMERGE Commerce Inc. (“EMERGE”), Canada’s leading digital deals and savings network, announced today it has acquired The UnderPar Group (“UnderPar”), the market leader in discounted golf experiences and products in Canada, with a fast growing presence in the U.S., for a total consideration of $12 million, in addition to a performance-based earnout.
UnderPar is EMERGE’s fourth acquisition in North America, and its largest transaction to date. UnderPar is on track to achieve $30 million in Revenue in 2019.
“We’re thrilled to welcome the entire UnderPar team, business, and brand to the EMERGE Family”, said EMERGE Founder and CEO, Ghassan Halazon. “In UnderPar, we’re acquiring a tremendously profitable, growing market leader in the lucrative golf deals space”. “What Mike and team have done in scaling the business from $0 to $30 million with practically no outside capital is nothing short of remarkable, and a testament to the rare breed of disciplined profitable businesses that EMERGE stands firmly behind, and looks to continue to partner with.”
For UnderPar, the acquisition represents the opportunity to continue to build on their existing leadership position in golf deals, while tapping into EMERGE’s 2 million member base, lucrative premium advertising relationships, and its one-stop-shop of discounted vendor services available to its portfolio brands.
“What’s really exciting about joining the EMERGE network, is that UnderPar will gain from additional marketing leverage and cross-selling opportunities, while still allowing the team to maintain and grow our local and direct relationships that form the cornerstone of the win/win culture that exists between UnderPar and our valued golf course partners”, said Mike Bourne, Founder and CEO of UnderPar.
“Ghassan and team are proving that acquiring and operating a portfolio of e-commerce assets is an incredibly cost-effective way to arrive at scale, as we set out to become Canada’s preeminent network for all things savings.” said, Drew Green, EMERGE Founder-Chairman, and INDOCHINO CEO.
UnderPar is based in Toronto, and operates in Canada and the U.S., with more than 300,000 members, and 750 golf course partners. Since inception, the business has generated cumulative sales of $136 million and sold over 1.5 million golf vouchers. EMERGE intends to maintain the Company’s headquarters.
Gravitas Securities Inc. acted as buy-side advisor for EMERGE. Gowling WLG (Canada) LLP acted as legal counsel to the Company.
“Profitable growth has been huge for me since Buytopia and forms much of our Clearbanc thesis. EMERGE has scaled with discipline, and this acquisition adds excellent profitability to their growing portfolio of e-commerce brands.” said Michele Romanow, EMERGE Advisor, Dragons’ Den personality and Clearbanc President.
To search for great golf deals or subscribe to UnderPar daily emails, visit www.UnderPar.com.
EMERGE is Canada’s leading digital deals and savings network with over 2 million members. Named fastest growing e-commerce startup in Canada on the 2019 Startup 50, EMERGE counts some of Canada’s most coveted online shopping destinations in its portfolio, including WagJag.com, UnderPar.com, Buytopia.ca, and Shop.ca, serving up limited-time offers on travel, golf experiences, family activities, events, groceries, products, coupons, credit cards and more. EMERGE was founded in 2016 and is based in Toronto, Canada.
For more information visit: https://www.emerge-brands.com
UnderPar is the market leader in deal-based golf promotions in Canada, with a fast growing presence in the United States. Using a consistent set of criteria to determine price and build consumer value, UnderPar has developed a scalable marketing model that outputs prepaid golf promotions that satisfy both the end user’s desire for savings while maintaining a consistent revenue stream for its golf course partners. UnderPar is based in Midtown Toronto, with a satellite office in San Diego, California.
For more information visit: https://www.underpar.com
Marketing & PR Manager
416.479.9590 ext 210