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Article: West Marine Inc., Boating Supplies Leader, to Buy Smaller Chain.(Originated from St. Petersburg Times, Fla.)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- April 8, 1996
- Author:
CopyrightCOPYRIGHT 1996 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Apr. 8--West Marine Inc., the nation's biggest boating supplies retailer, has agreed to pay about $30 million for E&B Marine Inc., the industry's third-largest chain.
The acquisition will give West Marine seven stores in the boat-rich Tampa Bay area -- two West Marine stores in St. Petersburg and Clearwater, and five E&B stores in Clearwater, Crystal River, Holiday, St. Petersburg and Tampa.
Combined, the two retailers will control 12 percent of the nation's boating supplies and equipment business.
West Marine was founded in 1968 by Randy Repass, a Silicon Valley engineer who got in the business by selling marine-strength rope through a mail-order ...