CSC Generation Enterprise (CSC), which describes its business as a “multi-brand technology platform known for acquiring and turning retailers into high-performing, digital-first businesses,” acquired online outdoor gear retailer Backcountry. This acquisition also includes Backcountry’s family of brands: MotoSport, Competitive Cyclist, and Steep and Cheap.
Terms of the transaction were not disclosed.
“Joining CSC is a significant milestone for us,” said Melanie Cox, CEO, Backcountry. “Our team is enthusiastic about utilizing CSC’s expertise and resources to accelerate the Backcountry strategy. We are confident that this acquisition will enable us to expand our market presence and continue delivering outstanding outdoor experiences.”
CSC said the deal strengthens its position in the retail industry, expanding its portfolio to over ten brands.
“Backcountry’s diverse product offerings and loyal customer base align perfectly with CSC’s dedication to delivering curated experiences that better meet customer expectations,” the company said in a media release.
CSC acquired the company from TSG Consumer Partners, which acquired the business in July 2015.
Bloomberg reported last summer that TSG Consumer Partners was exploring options for Backcountry, including a potential sale. Bloomberg said at the time that Backcountry generated about $1 billion in annual revenue and could be valued at hundreds of millions of dollars in a sale, according to sources that spoke with Bloomberg at the time.
In 2015 TSG Consumer Partners acquired Backcountry from Liberty Interactive Corp. for an undisclosed sum. Backcountry’s founder, Jim Holland, continued to own a stake in the company following the transaction. Partnering with TSG was expected to help Backcountry expand into adjacent categories and international markets and enhance marketing and brand-building efforts.
TSG appears to be more focused on acquisitions in the fitness space of late.
“We were drawn to Backcountry for several compelling reasons: their extensive and varied product range, deep connections with the outdoor community, and the remarkable passion and loyalty of their customers,” said Justin Yoshimura, founder and CEO, CSC Generation Enterprise. “By integrating their strengths with our commitment to digital innovation, we believe there is significant potential for continued growth.”
Backcountry will continue to operate under its brand name, with a focus on maintaining its unique identity and strong customer relationships.
CSC also owns the Sur La Table, One Kings Lane, Touch of Modern, DirectBuy retail brands, in addition to others.
Institutional investors in CSC Generation Enterprise include Khosla Ventures, Maveron, Panasonic, Altos Ventures, Conductive Ventures, and Greenspring Associates. Key individual investors include Wayfair Founder & CEO Niraj Shah, Build.com Founder and President Christian McFarland, Kevin Chou, founder , Superlayer, Dave Yuan, founder and partner, Tidemark, James Tamplin, co-founder, Firebase, Ryan Urban, founder & CEO, Wunderkind, and Asia Hirji, president, Moonpay.
J.P. Morgan Securities, LLC acted as financial advisor to Backcountry and Ropes & Gray acted as legal counsel. Sheppard, Mullin, Richter & Hampton represented CSC.
Backcountry.com was founded in Park City, UT in 1996.
