Shares of Sportsman’s Warehouse Holdings Inc. are surging following news of its acquisition by Great American Outdoors Group.
A statement last night revealed that the Springfield, Mo.-based company — parent to Bass Pro Shops, Cabela’s, White River Marine Group and a collection of nature-based resorts — agreed to acquire Sportsman’s Warehouse for $18 per share in cash. The transaction is expected to close in the second half of next year, subject to an antitrust review and approval by Sportsman’s Warehouse’s shareholders.
As of 1:30 p.m. ET, SPWH stock was up more than 38.5% to $17.53.
“This merger brings together the greatest brands in the outdoor industry,” said Sportsman’s Warehouse CEO Jon Barker. “As we look to the future, the combined entities provide our passionate associates with greater opportunities to serve the outdoor enthusiast … We look forward to a smooth transition and building our partnership.”