Sportsman’s Wareh (SPWH) rose 36.92% to $17.32 in the after-hours on Monday following the report that the company, with the aim of better serving its loyal customers, Sportsman’s Warehouse has signed a definitive agreement with Great America Outdoors Group, the parent company of Bass Pro Shops, Cabela’s, NAPA; and White River Marine. With a long-term outlook to benefit customers, team members, and conservation initiatives, the Great American Outdoors Group will remain a private company. A share of Sportsman’s Warehouse will be acquired for $18.00 in cash as part of the agreement.
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The partnership stems from the companies’ complementary business philosophies and geographic footprints. These companies are passionate about sharing the outdoors with their customers through various outdoor activities, including fishing, hunting, boating, etc. Likewise, both retailers are highly regarded for offering an outstanding line of brand name and proprietary products, superior customer service, well-trained staff, and a life-long commitment to conservation. Unifying represents a unique “win-win” opportunity for outdoor enthusiasts.
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Sportsman’s Wareh (SPWH) CEO Jon Barker said they are looking forward to a smooth transition and building their partnership. We are extremely excited to be joining the Great American Outdoors Group. This merger combines some of the biggest names in the outdoor industry. With our two companies’ merger, we can now offer greater opportunities for our associates to serve the outdoor enthusiast. I am so proud of how nearly 8,000 Sportsman’s Warehouse associates have built our company over the last 33 years, he added.