Sportsman's Warehouse sold to Canadian group?

[jdad]

Can anyone confirm this? I read on another forum that SW sold controlling interest to a Canadian firm about 3 weeks ago.

[deerwhacker444]

A friend of mine was talking last week to one of the gun counter workers at Sportsmans Warehouse and complaining about the reloading shelves being bare. The worker told him that SW had been sold to a new owner who would resupply the store and shelves ASAP. We didn't know if he meant the local store or the chain. I guess he meant the chain had been sold.

[Ray Newman]

From the Sportsman Warehouse web page:

November 26, 2008

UFA Co-operative Limited's increases annual revenue by $800 million with proposed acquisition of Sportsman's Warehouse

Calgary, AS, Nov. 26 - UFA Co-operative Limited is poised to acquire a majority interest in Sportsman's Warehouse, increasing the co-operative's annual revenue by $800 million.

Sportsman's Warehouse is a privately-owned outdoor outfitter with annual revenue topping $800 million and 67 stores in 29 American states. The acquisition aligns with UFA's strategy to diversify beyond its traditional businesses.

"UFA is a co-operative serving the people who live, work and play in rural communities," says Dallas Thorsteinson, president and chief executive officer. "Acquiring Sportsman's Warehouse fits perfectly with our strategy to create sustained valued for our owners by expanding to become a well-rounded rural marketer."

UFA will acquire a majority interest in US-based Sportsman's Warehouse. The acquisition is subject to successful completion of negotiations and a comprehensive due diligence process. UFA has already made a significant cash injection into the US retailer to ensure it's well stocked for the holiday retail season.

UFA is driving a controlled diversification strategy that includes construction and outdoor-lifestyle businesses. As a rural marketer, outdoor recreational products and services are a logical extension of UFA's existing relationship with customers and members. UFA acquired Canadian outdoor outfitter, Wholesale Sports in July 2008. Sportsman's Warehouse expands the co-operative's lifestyle business while financially strengthening the co-operative. With the addition of Wholesale Sports and Sportsman's Warehouse, UFA is a major North American force in the outdoor adventure industry.

UFA's 2007 revenues were more than $1.8 billion, ranking it among the 40 largest Alberta companies in terms of revenue, according to PricewaterhouseCoopers and Alberta Venture magazine. In 2008, UFA revenues will top $2 billion for the first time, having surpassed the $1 billion mark just four years ago.

"UFA is expanding beyond our traditional businesses to ensure that we can continue to serve our customers and owners." Thorsteinson added, "Our growth reflects our commitment to the people who have owned UFA for 100 years."

About UFA Co-operative Limited
UFA Co-operative Limited is one of Alberta's most dynamic enterprises. Canada's largest re-seller of diesel products serves rural communities throughout Alberta, B.C. and Saskatchewan with a construction division and an unmatched network of retail stores and petroleum outlets. With more than $1.8 billion in annual revenues and 120,000 active members, UFA is one of Canada's most successful co-operatives.

www.sportsmanswarehouse.com/company.cfm

[Old Time Hunter]

Talked to the manager today of my local SW and she said they are all waiting for it to be final so they can stock up. Mine looks barren! Absolutely no powder in the store....none! Did get a deal of sorts on a electronic predator call, normally $99 USD, box had a tear, she gave it to me for $25

[savagefan]

UFA bought Wholesale sports and Russell sports up here as well. Looks like they're getting set up to compete with Bass-Pro and Cabelas who are both making inroads here. Should be a win-win for the consumer.

[marlinman93]

I was at Sportsman's this weekend and they were starting to redo and restock the shelves here.

[kimwcook]

I was at the north Sportsman's Warehouse in Vancouver, WA, not this last weekend, but the weekend before and it was so bad I felt embarassed for the people working there. They had like eight boxes of 45 ACP left and that was about it besides some high end defensive stuff. Most of the shelves of loaded ammo were barren. Looked like ole mother Hubbard's cupboards.

[claybob86]

The stores in the Denver area have been pretty understocked lately, too. (understatement) Just seems to be in the gun dep't. though, so I attribute the understock to panic buying. (Not that I would participate in anything like that. )