Source: Dick’s Sporting Goods PR
Dick’s Sporting Goods has agreed to buy outdoor retailer Moosejaw from Walmart in a bid to take share in the multibillion-dollar outdoor market.
The cost of the deal, which is expected to close in March, was not disclosed. Walmart purchased Moosejaw for $51 million in February 2017 under then-e-commerce President Marc Lore.
The acquisition, a rare move for Dick’s, could help the retailer grow its presence in the outdoor market and develop its e-commerce footprint after its 2021 launch of Public Lands, which has a stronger brick-and-mortar focus.
During the Covid pandemic, stuck-at-home Americans rushed to the great outdoors for hiking, boating, biking and other activities that were considered safer than dining in restaurants or traveling.
Research from Penn State, released last year, found there was a 20% increase in outdoor recreation in the U.S. during the pandemic, prompting the emergence of a new group of outdoor enthusiasts.
Dick’s wants to turn those outdoor lovers into customers and sees huge opportunity in the market overall, which isn’t crowded and is estimated to be worth about $40 billion.
While Moosejaw operates about a dozen brick-and-mortar locations in the Midwest and near the Great Lakes, it’s primarily an e-commerce company that’s been around since 1992.
The acquisition of Moosejaw is expected to help Dick’s grow its e-commerce channels. Dick’s will get access to the retailer’s loyal customer base and vendor relationships.
“We admire what Moosejaw has accomplished over the past 30 years as leaders in the outdoor industry and look forward to the opportunity to share insights and learn from one another,” said Todd Spaletto, the president of Public Lands and a senior vice president at Dick’s.
“We believe there’s potential to grow the Moosejaw business and provide compelling experiences and an expanded product assortment to its millions of loyal customers,” he said.
Walmart scooped up Moosejaw in 2017 while…
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