Boot Barn Holdings Inc. acquired certain assets of Drysdales Inc., a retailer with two stores in Tulsa, OK. As part of the transaction, Boot Barn purchased inventory and offered employment to the Drysdales team at both store locations. Boot Barn funded the acquisition from cash on hand.
Jim Conroy, chief executive officer, commented, “Tulsa is a market that is core to the western and workwear industry, and Drysdales is the market leader. Drysdales opened its first store in 1981 and has successfully operated its business for more than 35 years. As we looked to expand into Tulsa, the opportunity to acquire these stores and their experienced team of associates was very compelling. Under the leadership of Jim McClure, these stores have successfully served the needs of the western and work customers in this area. We are looking forward to the opportunity to continue to grow the business and further expand the Boot Barn presence in Oklahoma.”
Jim McClure, the president and majority stockholder of Drysdales, commented, “I want to thank the team members at both of our stores who have provided tremendous service to our loyal customers in our community. It is exciting to have Drysdales join Boot Barn, the leading western retailer in the country, and I am looking forward to seeing the benefits that a national retail company can provide to both our customers and our associates in the future.”
Including the two Drysdales stores, Boot Barn now operates 232 stores in 31 states, in addition to an e-commerce channel, bootbarn.com.