Affiliates of CriticalPoint Capital, LLC announced the closing of the sale of JackRabbit to Fleet Feet.
Headquartered in Denver, CO, JackRabbit is the second-largest running specialty retailer in the U.S. With headquarters in Carrboro, NC, Fleet Feet is the largest franchisor of locally-owned and operated running stores.
Originally formed in 2011 as a specialty running store consolidation effort by The Finish Line, JackRabbit was acquired by affiliates of CriticalPoint in 2017. Today, it is considered to be a leading omnichannel specialty running retailer with 56 brick-and-mortar locations across 15 states and a “thriving e-commerce business,” according to CriticalPoint. During CriticalPoint’s ownership, the management team executed a carve-out, invested into and grew its e-commerce channel and optimized its brick-and-mortar locations to achieve revenue and earnings growth.
“Building JackRabbit into an omnichannel leader in running specialty is a testament to a dedicated and passionate team,” said Bill Kirkendall, JackRabbit’s CEO. “I would like to thank the JackRabbit associates and CriticalPoint for their support in helping make our shared vision become reality.”
“The combination of JackRabbit and Fleet Feet establishes a complementary footprint and e-commerce skill set to further enhance and serve the active lifestyle and running communities,” said Brad Holtmeier, partner, CriticalPoint. “Under Bill’s outstanding leadership, the team has accomplished the goals it set for JackRabbit five years ago. We’re confident the business will continue to thrive into the future.”
The sale of JackRabbit represents CriticalPoint’s third successful exit in the last fifteen months, following the sale of Arlon EMD to the Taiwanese-based and publicly traded Elite Material Co., Ltd. and the sale of Organized SportsWear to Spiritwear.com.
Photo courtesy JackRabbit
