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Chicago, IL, United States, 2015/07/08 - GE Capital, Commercial Distribution Finance (CDF) announced it has expanded its inventory financing program with Bass Pro Shops and Tracker Marine to include the distribution network of Fishing Holdings, LLC - BassPro.com / GECDF.com. NYSE: GE
The agreement will run through 2018.
Bass Pro Shops (basspro.com) recently acquired Fishing Holdings, a manufacturer of fiberglass and aluminum fishing boats that includes the Ranger, Stratos and Triton brands. Fishing Holdings will remain an independent company under the Bass Pro group of companies. Bass Pro Shops, which also owns boat manufacturer Tracker Marine, has been a CDF customer for more than 25 years, and CDF has worked with Fishing Holdings since 1982.
“Our company has a very long relationship with CDF. Their expertise and commitment in the area of dealer floorplan financing has been and continues to be a tremendous benefit,” said Randy Hopper, president of Fishing Holdings. “As a part of the Bass Pro group of companies, we expect the CDF relationship to yield even more synergies that will bring value to our dealer network.”
“I anticipate that exceptional benefits will be derived by Bass Pro Shops as they leverage their position of leadership in the marine marketplace,” said Bruce Van Wagoner, president of CDF’s marine group. “Bass Pro Shops, along with the dealer networks of Tracker Marine and Fishing Holdings, have a long track record of success in the fish boat market, and our team is ready to help the companies make the most of their new relationship.”
Inventory financing, also known as floorplan financing, enables dealers to stock a broad selection of new and used product. Manufacturers and distributors benefit from enhanced product flow and increased sales opportunities, and dealers obtain improved terms and credit availability. CDF has provided inventory financing to the marine industry for more than 50 years.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance (gecdf.com) provided $36 billion in financing for more than 30,000 dealers and more than 3,000 distributors and manufacturers in the U.S. and Canada in 2014. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management and related financial products.
GE (ge.com) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world.