Sportsman’s Warehouse Holdings Inc. announced that it has entered into agreements with Dick’s Sporting Goods Inc. to purchase two Field & Stream locations in Erie, PA and Charleston, SC.
The stores will be rebranded as Sportsman’s Warehouse. The total purchase price of $4.5 million for inventory and assets will be funded through Sportsman’s Warehouse cash on hand. The transaction is expected to close in October, subject to customary closing conditions.
Sportsman’s Warehouse previously purchased 10 Field & Stream stores from Dick’s in late 2019 and early 2020. The transactions are consistent with the Sportsman’s Warehouse growth strategy of opportunistically expanding its store footprint and geographical reach.
“The first and second rounds of Field & Stream transactions proved to be exceptional investments for our company,” said Jon Barker, Sportsman’s Warehouse CEO. “The passionate and knowledgeable Field & Stream associates who joined Sportsman’s Warehouse were a critical component of the prior deals’ success. Therefore, we are very excited from both a human resources and financial perspective to add the two additional Field & Stream stores to our portfolio. The current transaction is similar to the previous ones, and we anticipate a strong reception to the Sportsman’s Warehouse brand as we become an integral part of the Erie and Charleston communities.”
The company currently operates 107 Sportsman’s Warehouse stores in 27 states. Including the two Field & Stream acquired, the company plans to open nine Sportsman’s Warehouse stores this year. The company also opened its first Legacy Shooting Center earlier this year.
Photo courtesy Sportsman’s Warehouse