in march 17, 2020 08:40 ET | Source: Sportsman's Warehouse Holdings, Inc. Sportsman's Warehouse Holdings, Inc. West Jordan, Utah, UNITED states
WEST JORDAN, Utah, march 17, 2020 (GLOBE NEWSWIRE) -- Sportsman’s Warehouse Holdings, Inc. (“Sportsman’s Warehouse” or “Sportsman’s”) (Nasdaq: SPWH), www.sportsmans.com, announced this day that the has gone into into agreements v DICK’S Sporting Goods, Inc. (“DICK’S”) (NYSE: DKS) to get two ar & stream locations.
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The shop in Crescent Springs, Kentucky and Kalamazoo, Michigan will be rebranded together Sportsman’s Warehouse. The total purchase price of $5 million for inventory and assets will be funded v borrowings under Sportsman’s revolving credit facility. Sportsman’s will sublease the two locations from DICK’S. The transactions are expected come close in March, topic to customary close up door conditions.
The acquisitions are constant with Sportsman’s development strategy of opportunistically expanding its keep footprint in strong markets through well-established customer bases.
“The initial acquisition of eight field & Stream stores in October 2019 has actually proven to it is in a very good investment. A an important component the its success has actually been the passionate ar & stream associates and managers who joined Sportsman’s as component of the acquisition. As a result, we space excited to include another two field & currently stores, including the extr Field & stream team members,” claimed Jon Barker, Sportsman’s Warehouse CEO. “The current transaction is comparable to the previous one, and also we anticipate a strong reception come the Sportsman’s brand in the two brand-new markets.”
Mr. Barker continued, “As rivals de-emphasize and/or exit the firearms and ammunition categories, we will proceed to capitalize on this industry consolidation by opening new stores and gaining market share. We look forward to giving these neighborhoods with all of the commodities they require for their outdoor activities as we stay committed to serving the outdoor enthusiast.”
In the comes weeks, client in the Crescent Springs, KY and also Kalamazoo, MI areas will reap grand opening celebrations at each store to include giveaways, door prizes, special discounts and also much more.
Sportsman’s right now operates 104 shop in 27 states. Sportsman’s has now announced a complete of five new store openings because that 2020, including the two brand-new Field & stream stores, with more new stores expected to be announced in the close to future.
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About Sportsman’s Warehouse Holdings, Inc. Sportsman’s Warehouse is an out sporting items retailer focused on conference the everyday needs the the seasoned out veteran, the first-time participant, and also everyone in between. We administer outstanding gear and exceptional company to inspire outdoor memories. For more information, visit www.sportsmans.com.