But losses mount for the home furnishings e-retailer that went public in October.
The acquisition of The Sportsman’s Guide will push Redcats deeply into the direct marketing of sporting goods. Sportsman’s Guide acquired The Golf Warehouse in 2004 and is launching two more sites, Baseballsavings.com and Softballsavings.com.
Redcats USA has completed its acquisition of The Sportsman`s Guide Inc.
Redcats values The Sportsman`s Guide deal at approximately $265 million, including the value of outstanding stock options. "The acquisition of the Sportsman`s Guide in the U.S. enhances the international operations of Redcats,” says Redcats Group chairman and CEO Thierry Falque-Pierrotin. “It is a fast growing and a web-driven business segment, especially the Golf Warehouse."
Redcats USA Inc., No. 28 in the Internet Retailer Top 500 Guide to Retail Web Sites, is acquiring The Sportsman’s Guide Inc., No. 60 in the Internet Retailer Top 500 Guide to Retail Web Sites, to make a concerted push into sporting goods, an online retail segment growing at an annual rate of about 25%. "We look forward to working together to take The Sportsman`s Guide and The Golf Warehouse to a further step of their development,” says Redcats USA chairman and CEO Eric Faintreny. “These new brands ideally complete our existing portfolio and will contribute to reinforcing Redcats USA`s presence on the Internet and with fast growing businesses."
The Sportsman’s Guide acquired The Golf Warehouse in 2004 and now is launching two more e-commerce sites, Baseballsavings.com and Softballsavings.com. The new sites will be developed and maintained by Golf Warehouse and carry more than 11,000 SKUs from brands such as Rawlings and Wilson’s Sports.