Redcats to Buy Sportsman's Guide

The deal is valued at $31 a share.
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Sportsman's Guide

(SGDE)

, a catalog distributor and online marketer of outdoor goods and sports gear, agreed to be acquired by Redcats USA for $31 a share.

The share price represents a nearly 15% premium over Sportsman's Guide's latest closing price. The transaction is worth $265 million, including the value of stock options. Redcats markets apparel and home products through catalogs and online.

Shares of Sportsman's Guide were rising $3.52, or 13%, to $30.52 Friday.

The board of Sportsman's Guide unanimously approved the deal. The transaction is expected to close during the third calendar quarter.

Sportsman's Guide operates Web sites including a namesake site, tgw.com and baseballsavings.com. Redcats USA's primary brands include Chadwick's, Roaman's and Jessica London. Redcats is part of France's PPR, the company formerly known as Pinault-Printemps-Redoute.