Sports Retailer Expands With $150M Equity Investment

Law360, New York (June 7, 2012, 7:19 PM EDT) -- Sports merchandise specialist Fanatics Inc. announced Wednesday it landed a $150 million equity infusion from venture capitalists Insight Venture Partners and Andreessen Horowitz at the same time it closed a $183 million deal for fellow online retailer Dreams Inc.

The deal values the Florida-based retailer at $1.5 billion and boosts Fanatics' 2013 revenue outlook to $1 billion, with Insight and Andreessen Horowitz's joint investment earmarked for future growth, according to a statement from the merchandiser.

Fanatics also secured a $75 million line of credit from lenders...
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