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Sport Supply Group (NASDAQ: RBI) did not discloss the financial terms of the transactiobn with GusDoerner Sports, which is basee in Evansville, Ind. However, the acquisition comes only days aftet Sports Supply announced the acquisition ofSouty Florida-based Webster’s Team Sports. Adam Blumenfeld, chairman and CEO of Sporf Supply Group, said both acquisitionx were funded with working capita l and the company has anuntapped $40 million bank line of credity with that can be used for additional acquisitionse in the future.
Blumenfeld said the company's ongoint expansion plan is two-fold: the company is looking to acquire companies that have a sportsx product distribution base that isgeographicallyy suitable; and secondly, his company is lookiny for acquisitions that produce proprietaryg products to complement Sport Supply Group's productt catalogue. The recent acquisitions will not resulg in new jobs inthe Dallas-Fort Worth Blumenfeld said, but the company's purchasew of Gus Doerner Sports will add five to six employee s to the company's nationwide work force. Sport Supplyt Group has 750 employees including 220 employees inFarmerds Branch.
For the fiscal year ending June 30, 2008, the companuy had a profit of $9.7 million, or 76 centse per share, on sales of $251
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