Sportsman’s Warehouse Holdings, Inc. to Acquire Two Field & Stream Stores in Kentucky and Michigan
17 March 2020 - 11:40PM
Sportsman’s Warehouse Holdings, Inc. (“Sportsman’s
Warehouse” or “Sportsman’s”) (Nasdaq: SPWH), www.sportsmans.com,
announced today that it has entered into agreements with DICK’S
Sporting Goods, Inc. (“DICK’S”) (NYSE: DKS) to acquire two Field
& Stream locations.
The stores in Crescent Springs, Kentucky and Kalamazoo, Michigan
will be rebranded as Sportsman’s Warehouse. The total purchase
price of $5 million for inventory and assets will be
funded through borrowings under Sportsman’s revolving credit
facility. Sportsman’s will sublease the two locations from
DICK’S. The transactions are expected to close in March,
subject to customary closing conditions.
The acquisitions are consistent with Sportsman’s growth strategy
of opportunistically expanding its store footprint in strong
markets with well-established customer bases.
“The original acquisition of eight Field & Stream stores in
October 2019 has proven to be a very good investment. A critical
component of its success has been the passionate Field & Stream
associates and managers who joined Sportsman’s as part of the
acquisition. As a result, we are excited to add another two Field
& Stream stores, including the additional Field & Stream
team members,” said Jon Barker, Sportsman’s Warehouse CEO. “The
current transaction is similar to the previous one, and we
anticipate a strong reception to the Sportsman’s brand in the two
new markets.”
Mr. Barker continued, “As competitors de-emphasize and/or exit
the firearms and ammunition categories, we will continue to
capitalize on this industry consolidation by opening new stores and
gaining market share. We look forward to providing these
communities with all of the products they need for their outdoor
activities as we remain committed to serving the outdoor
enthusiast.”
In the coming weeks, customers in the Crescent Springs, KY and
Kalamazoo, MI areas will enjoy grand opening celebrations at each
store to include giveaways, door prizes, special discounts and much
more.
Sportsman’s currently operates 104 stores in 27 states.
Sportsman’s has now announced a total of five new store openings
for 2020, including the two new Field & Stream stores, with
more new stores expected to be announced in the near future.
About Sportsman’s Warehouse Holdings, Inc.
Sportsman’s Warehouse is an outdoor sporting goods retailer focused
on meeting the everyday needs of the seasoned outdoor veteran, the
first-time participant, and everyone in between. We provide
outstanding gear and exceptional service to inspire outdoor
memories. For more information, visit www.sportsmans.com.
Investor Relations Contacts
Robert Julian, Chief Financial Officer
Caitlin Howe, Vice President, Corporate Development and Investor Relations
(801) 566-6681
investors@sportsmans.com
Dicks Sporting Goods (NYSE:DKS)
Historical Stock Chart
From Apr 2024 to May 2024
Dicks Sporting Goods (NYSE:DKS)
Historical Stock Chart
From May 2023 to May 2024