Dick’s Sporting Goods announced Wednesday that it had agreed to buy outdoor outfitter Moosejaw from Walmart.
The price was not disclosed, but Moosejaw last sold in 2017 when Walmart bought the outdoor retailer for $51 million.
With the addition of Moosejaw, Dick’s will look to expand its outdoor portfolio, currently led by its specialty retailer, Public Lands.
WALMART CURBS LOSSES DESPITE COMPANY’S ‘CAUTIOUS’ 2023 OUTLOOK
Todd Spaletto, president, Public Lands and senior VP of Dick’s Sporting Goods, said "There's potential to grow the Moosejaw business and provide compelling experiences and an expanded product assortment to its millions of loyal customers."
"We admire what Moosejaw has accomplished over the past 30 years as leaders in the outdoor industry," he said.
The deal is expected to close in March 2023.
Moosejaw was founded in Michigan in 1992 and operates an e-commerce platform and vendor relationships with other outdoor brands. The outdoor retailer also has brick-and-mortar locations in Arkansas, Colorado, Illinois, Kansas, Michigan and Missouri.
WALMART SEES WEAKER 2023 RESULTS, CAUTIOUS ON ECONOMIC OUTLOOK
Walmart acquired the chain in Feb. 2017. At the time, Moosejaw had 10 stores and carried more than 400 brands, including Patagonia, The North Face, Marmot, and Arc’teryx.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Dick’s Sporting Goods is up about 8% year to date while Walmart is flat.
