Sportsman’s Warehouse to Acquire 8 Field & Stream Stores
This acquisition is consistent with Sportsman’s strategy to return to a more typical store growth pattern, following a period of investment in omni-channel capabilities, technology, and debt reduction over the last two years.
“We are very pleased to announce this opportunistic expansion of our current 95 store base through the acquisition of these 8 Field & Stream locations. Each of these stores operate in strong markets, with well-established customer bases. We look forward to serving these communities with our continued strong commitment to provide outstanding gear and exceptional service to inspire outdoor memories.” said
Excluding non-recurring costs and non-cash purchase accounting adjustments, this transaction is expected to be neutral to EPS in fiscal year 2019, and accretive to EPS in fiscal year 2020. The acquired stores, both individually and collectively, meet or exceed the investment hurdle rates that Sportsman’s has established for opening any new store.
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements in this release include, but are not limited to, statements regarding the expected benefits of the acquisition and the expected timing of the closing of the acquisition. Investors can identify these statements by the fact that they use words such as "continue", "expect", "may", “opportunity”, "plan", "future", “ahead” and similar terms and phrases. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to risks relating to the Company’s ability to satisfy the closing conditions in the asset purchase agreement and consummate the acquisition; the Company’s ability to successfully integrate the Field & Stream stores into the Company’s business and to realize the anticipated benefits of the acquisition; the possibility that the expected benefits from the acquisition may not materialize as expected or in the timeframes expected; the parties’ ability to meet expectations regarding the timing and completion of the transaction; retention of employees at the eight acquired locations following the announcement of the transaction; the Company’s retail-based business model, general economic conditions and consumer spending, the Company’s concentration of stores in the
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ICR, Inc. Rachel Schacter(203) 682-8200 firstname.lastname@example.org
Source: Sportsman's Warehouse Holdings, Inc.