Gander Mountain gets $225 million credit facility

By Sara Rosenberg

New York, Feb. 28 - Gander Mountain Co. closed on a new $225 million credit facility that can be expanded to $300 million under certain conditions, according to a company news release.

Fleet Retail Group Inc. was the lead bank on the deal.

This facility expands and extends the prior agreement between the company and a consortium led by Fleet.

"The increased credit facility will provide greater liquidity and flexibility and supports our continued growth plans," president and chief executive officer Mark Baker said in the release.

Gander Mountain is a Minneapolis specialty retailer that serves the needs of outdoor lifestyle enthusiasts.

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