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Fishing supplier Angling Direct opens two new shops as company value soars to £35m

PUBLISHED: 09:26 21 August 2017 | UPDATED: 10:30 21 August 2017

Angling Direct executive chairman, Martyn Page, right, and CEO Darren Bailey, at their Rackheath distribution centre. Picture: DENISE BRADLEY

Angling Direct executive chairman, Martyn Page, right, and CEO Darren Bailey, at their Rackheath distribution centre. Picture: DENISE BRADLEY

Copyright: Archant 2017

A fishing tackle store chain is continuing to grow as it gets set to launch two new shops weeks after floating on the stock exchange.

Angling Direct, based on the Rackheath Industrial Estate in Norwich, has launched a new store at Swindon with another poised to open in Slough.

The company was listed on the AIM in July and has grown its market capitalisation from £27.4m to £35.69m in that time.

Angling Direct said both sites were in popular fishing areas with strong communities and would be a good fit for the firm.

MORE: Angling Direct boss urges more Norfolk firms to brave the stock market ahead of historic AIM listing

MORE: Angling Direct: The Norfolk success story that has gone from one shop to a £27.4m stock market flotation

Angling Direct’s chief executive officer Darren Bailey said: “The vast array of lake and river fishing within the surrounding areas supports the company’s rationale for opening new stores in these locations, with the aim of capturing a large proportion of their respective angling communities.

“As we seek to cater for all anglers across the UK, we will continue to strategically expand our geographical footprint as well as enhance our online offering in terms of products, experience and education.”

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