TSG Consumer Partners LLC has acquired Backcountry.com, LLC from Liberty Interactive Corporation for an undisclosed sum and said it will help the online retailer expand into adjacent categories and international markets, as well as enhance marketing and brand building efforts.
While Backcountry founder Jim Holland retains a stake in Backcountry, the companies did not disclose any financial details of the transaction.
Founded in Park City, Utah in 1996, Backcountry provides premium outdoor gear and apparel to people who are passionate about being outside and staying active. Backcountry has grown tremendously over the last 20 years and cultivated a loyal customer base through its strong portfolio of websites, including its flagship Backcountry brand, as well as Competitive Cyclist, MotoSport, Bergfreunde, Steep&Cheap and Whiskey Militia.
“Backcountry is the online destination for outdoor enthusiasts, and the core consumer is highly loyal to the site and the brand. TSG is excited to partner with a company with such a strong brand heritage and authenticity,” TSG President Jamie O’Hara said.
Backcountry’s proven, execution-oriented management team, robust e-commerce platform and deep merchandising and marketing expertise fit right into TSG’s wheelhouse, according to Jennifer Baxter Moser, Managing Director at TSG.
“As the outdoor market continues to expand, TSG is looking forward to working with the Backcountry team to harness the company’s untapped potential to grow and expand its reach to more outdoor enthusiasts worldwide,” said Baxter Moser.
Backcountry President and CEO Jill Layfield thanked Liberty for helping the company grow and expand.
“We look forward to this next chapter with TSG, a proven brand-builder with over 25 years of experience in the consumer industry,” said Layfield. “We believe TSG represents the ideal partner for Backcountry, and we will work with them to continue to improve our offerings and merchandising, optimize our technology platform, and enhance our distribution efforts. By combining TSG’s expertise with Backcountry’s leadership position in the outdoor market, the company will be well-positioned to build on our current platform and drive significant growth.”
Prior to the transaction, Backcountry was attributed to the Liberty Ventures tracking stock group of Liberty.
“Backcountry has performed nicely over the past eight years, and its Goat logo has come to symbolize authenticity and excellence in the outdoor industry. We wish Jill Layfield and the team continued success and will remain loyal customers,” stated Greg Maffei, president and CEO, Liberty Interactive Corporation.
Guggenheim Securities, LLC served as financial advisor and Sherman & Howard L.L.C. served legal counsel to Liberty and Backcountry. Ropes & Gray LLP served as legal counsel to TSG.
About Backcountry
Backcountry is the largest online specialty retailer of premium outdoor gear. The quality and breadth of our products, the knowledge and empowered service of our Gearheads, the lightning-fast speed of our fulfillment, and the shared gear knowledge of our community enable our customer’s passions outside. With six specialty stores: Backcountry.com, CompetitiveCyclist.com, MotoSport.com, Bergfreunde.de, SteepandCheap.com, and WhiskeyMilitia.com, we have the gear for your next adventure. Since 1996, Backcountry has been connecting people to their passions. For more information, please visit www.backcountrycorp.com.
About TSG Consumer Partners
TSG Consumer Partners LLC is a leading investment firm with approximately $3 billion in equity capital under management, focused exclusively on the branded consumer sector. Since its founding in 1987, TSG has been an active investor in the food, beverage, restaurant, beauty, personal care, household and apparel & accessories, and ecommerce sectors. Representative past and present partner companies include Vitaminwater, Smart Balance, Popchips, Muscle Milk, Yard House, Revolve Clothing, Smashbox Cosmetics, Pureology, E.L.F. Cosmetics and Paige Denim.
