Sportsman's Warehouse To Buy 8 Field & Stream Stores - Quick Facts

(RTTNews) - Sportsman's Warehouse Holdings, Inc. (SPWH) agreed Monday to acquire inventory and assets of 8 Field & Stream locations from DICK'S Sporting Goods, Inc. (DKS) for $28 million. The acquired stores will be operated as Sportsman's Warehouse stores and are located in Pennsylvania, New York, North Carolina and Michigan.

The purchase price will be funded through borrowings under Sportsman's revolving credit facility. Sportsman's will sublease the eight locations from DICK'S. The transaction is expected to close on October 11, 2019 subject to customary closing conditions.

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.

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.