Boot Barn Holdings Inc. acquired certain assets of Lone Star Western & Casual LLC, an individually-owned retail company with three stores in Waxahachie, Corsicana and Athens in Texas.
As part of the transaction, Boot Barn purchased inventory, entered into new leases with the stores’ landlord and offered employment to the Lone Star team at all three store locations. Boot Barn funded the acquisition from cash on hand.
Jim Conroy, chief executive officer, commented, “Texas is the largest western and work market in the U.S., and the acquisition of Lone Star’s three stores enables us to expand our presence in this important region. Lone Star opened its first store in 1977 and has successfully operated its business under the leadership of Joe Masso, the owner, and his team for more than 40 years.”
Conroy continued, “These stores help increase our footprint in key customer markets surrounding Dallas and are consistent with our guidance to accelerate new store openings in fiscal 2019 and further enhance our brand awareness in Texas.”
Joe Masso, the founder and owner of Lone Star who will retire from the business, said, “As Lone Star enters this exciting new chapter in its growth story, I am thankful for the support of my team members over the past several decades. I look forward to watching their continued growth and development as part of the Boot Barn family.”
Including the three Lone Star stores, Boot Barn now operates 229 stores in 31 states.