Gander Mountain announced the signing of a new credit facility for $225 million with Fleet Retail Group, Inc., a Bank of America company. The facility may be increased to $300 million subject to certain terms and conditions. This facility expands and extends the prior agreement between Gander Mountain and a consortium led by Fleet.
“Fleet Retail Group has been a strong partner and we are pleased to extend this great relationship,” said Mark Baker, president and CEO. “The increased credit facility will provide greater liquidity and flexibility and supports our continued growth plans.”
“We have a high regard for the company and the management team’s ability to distinguish their organization within their niche in the marketplace,” commented Ward K. Mooney, President of Fleet Retail Group. “We look forward to continuing a long-term relationship with Gander Mountain.”