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Maurice Sporting Goods Announces Expansion of Credit Facility

Industry News| Views: 175

Northbrook, IL — Maurice Sporting Goods, North America’s largest distributor of outdoor sporting goods, announced an expansion of the company’s financing agreement in partnership with three major banks: BMO Harris Bank®, The PrivateBank, and First Midwest Bank. Under the agreement, Maurice Sporting Goods has gained additional capital to support the short term seasonal needs of the business, as well as to execute on the company’s long term strategic realignment.

“I’m proud to announce the continued support of our banking partners, as we work together to realize our mutual short and long term goals,” said Jory Katlin, President and CEO of Maurice Sporting Goods. “One of the key cornerstones of our business has always been the creation of mutually beneficial partnerships. Whether those partnerships are with the finest retailers in North America, with our long‐term outstanding vendors, or with our financial backers of many decades, in all cases we strive to develop strategies that fulfill the business goals of our partners as well as our own.  We could not have been successful over the company’s 94 years if this were not the case, and today is another prime example of how collaboration and partnership will continue to be the foundation of our success in the future.”

Katlin added, “The past few years have seen unprecedented change in the sporting goods industry, and Maurice Sporting Goods is making dynamic changes to keep pace.  One example is the opening of our new, 300,000 square foot, state-of-the-art distribution facility in McDonough, GA. We built that facility with one goal in mind: to provide our retailers and our vendors with the most accurate, most efficient, and fastest distribution service in the industry.  We’re very proud to be racing toward that goal, but that kind of progress can only be achieved with the support of our partners.  The fact that our banks have the confidence in our company and in our strategy to support us as we invest for the future is extremely gratifying, and I’d like to express my personal thanks as we announce our new agreement today.”

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