PGA pro-owned golf retail group changes its name

Tania Longmire
By Tania Longmire October 27, 2011 09:41

PGA pro-owned golf retail group changes its name

TGI Golf, the golf retail services group owned by PGA Professionals, has changed its name to the TGI Golf Partnership.

The new name, which reflects the company’s desire to be less thought of as merely a buying group, which it previously was, was unveiled to the company’s 400 partners at its annual general meeting at The Golf Show, Harrogate, on Wednesday, October 26.

“What makes the TGI Golf Partnership unique in our industry is that the company is equally owned by PGA professionals, who all receive shares and cashback bonuses annually based on sales of accredited suppliers’ products,” said Eddie Reid, TGI Golf Partnership managing director.

“Over the past eight years, we have added more than 200 new retailers to the company, grown total income by more than by 250 per cent, and given back more than £1 million in cash dividends in addition to bonus shares to our partners.”

The name change follows findings by an independent report by Cass Business School, commissioned by the John Lewis Partnership, that shows employee owned businesses (EOBs) are more resilient in a recession. The average sales growth of EOBs between 2008 and 2009 was 11.08 per cent, significantly surpassing that of non-EOBs (0.61 per cent) during the same period.

 

Tania Longmire
By Tania Longmire October 27, 2011 09:41
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