TSG Consumer Partners LLC has acquired Backcountry.com LLC from Liberty Interactive Corp. No financial terms were disclosed. Guggenheim Securities LLC provided financial advice to Liberty and Backcountry on the transaction. Utah-based Backcountry is an online retailer of outdoor gear and apparel.
San Francisco, CA and Park City, UT – July 1, 2015 – TSG Consumer Partners LLC (“TSG”), a leading strategic equity investor in high-growth consumer brands, and Backcountry.com, LLC (“Backcountry”), one of the largest online specialty retailers of outdoor gear and apparel, announced today that TSG has acquired Backcountry from Liberty Interactive Corporation (“Liberty”). Backcountry founder Jim Holland will continue to own a stake in the Company following the transaction, the terms of which were not disclosed.
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.
Jamie O’Hara, President at TSG, said, “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.”
Jennifer Baxter Moser, Managing Director at TSG, said, “Backcountry’s proven, execution-oriented management team, robust ecommerce platform and deep merchandising and marketing expertise fit right into TSG’s wheelhouse. 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.”
Jill Layfield, President and CEO of Backcountry, said, “We are thankful for the support that Liberty has given us during their ownership to allow us to grow and expand Backcountry. We look forward to this next chapter with TSG, a proven brand-builder with over 25 years of experience in the consumer industry. 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.”
“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, Liberty President and CEO.
Partnering with TSG, Backcountry will expand into adjacent categories and international markets, as well as enhance marketing and brand building efforts.
Prior to this transaction, Backcountry was attributed to the Liberty Ventures tracking stock group of Liberty (NASDAQ: LVNTA).
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.
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. For more information please visit www.tsgconsumer.com.