Western apparel store Boot Barn eyes Q3 IPO, say sources-Reuters

(Reuters) – Boot Barn‘s private equity owners are preparing an initial public offering later this year for the retailer and are in the process of interviewing banks, people familiar with the matter said on Thursday.

Boot Barn, which carries items like Western style boots, jeans, hats, belts and jewelry, is owned by private equity firm Freeman Spogli & Co.

Boot Barn and Freeman Spogli did not immediatley respond to requests for comment.

Founded in 1978 in Huntington Beach, California, Boot Barn now has over 150 stores in 23 states, according to the company’s website. Its brands include Wrangler, Ariat, Justin, Carhartt, Dan Post, Resistol and Montana Silversmith.

Freeman Spogli acquired Boot Barn in December 2011, when the retailer had only 83 stores, from investment firm Marwit Capital for an undisclosed amount.

Freeman Spogli has been aggressively looking to exit its investments through the public markets in recent months. It is in the process of preparing initial public offerings for portfolio companies like restaurant chain El Pollo Loco and home improvement retailer Floor and Decor, Reuters has previously reported.