Collegiate Pacific revealed in SEC filings last week that the acquisition of Kesslers Sport Shop in April of this year was valued at $13.75 million, consisting of $6.5 million in cash and 906,250 shares of BOO common stock valued at $7.25 million. The July deal to acquire Dixie Sporting Goods was valued at approximately $6.0 million, consisting of $4.0 million in cash, $500,000 in promissory notes, and 148,662 shares of BOO common stock valued at $1.5 million, which were split evenly between brothers Ken and Michael Caravati. Collegiate Pacific filed a registration statement Friday for Kesslers and Dixie to sell their respective shares.
BOO also revealed that the Caravatis are tied up with five-year employment agreements and are eligible to receive an earnout in an amount not to exceed $1.0 million if certain net income targets are achieved by Dixie Sporting Goods through December 31, 2005. Collegiate Pacific reported that they now have a 125 person direct sales force servicing its customer base.
