Prime Rate Investors, an affiliate of RSN and the owners of Stowe TV-10, has signed a letter of intent to acquire Skiershop Mountain Sports, a Stowe, Vermont based Bicycle, Outdoor, and SnowSports retailer.
“The acquisition of Skiershop Mountain Sports is a crucial part of our horizontal growth in the outdoor sports and multi-media industries, adding retail and e-tail facets of exposure and pillars of revenue,” said PRRM President Dan Burgess.
Skiershops e-tail platform, www.skiershop.com, has been featured as “Best of the Web” on Forbes.com. PRRM is banking on predictions that as more people gain easy access to broadband internet, sales through this channel will grow at Skiershop. The deal is forecast to add more than $1.2 million in annualized revenue and to be accretive to the company's earnings.