Moosejaw Being Acquired by Dick’s Sporting Goods
Moosejaw Mountaineering, the outdoor lifestyle retailer that was acquired by Walmart as it built its stable of digitally native brands over the past decade, has now been bought by Dick’s Sporting Goods, a more natural home for its products and audience than Dick’s trying to expand it vendor base.
The deal is expected to close in March and financial terms were not disclosed.
Walmart acquired Moosejaw in February 2017 for $51 million, the first product in a buying spree of digital brands built on the direct-to-consumer model, all of which continue to operate independently. Between 2016 and 2018 this group grew to include Eloquii, Hayneedle and Shoes.com (both via the failed Jet.com), Modcloth, Bonobos and Bare Necessities. Walmart sold Modcloth to Go Global Retail in 2020, which in turn sold it to Nogin in 2021.
All of these acquisitions happened when Jet.com founder Marc Lore was e-commerce head at Walmart. He left the company in 2021.
Moosejaw was started in Michigan in 1992 by the trio of Bill Schulman, a teacher and summer camp director, and longtime friends Robert Wolfe and David Jaffe. It’s known for its quirky marketing and loyal customer base of camping, hiking, and outdoor enthusiasts.
Like other leisure retailers, Moosejaw has benefited from the massive movement towards outdoor activities as a result of the pandemic lockdowns. To that point, Dick’s said in its announcement that the deal “will expand Dick’s outdoor portfolio – currently led by specialty retailer Public Lands – and will reaffirm its commitment to the long-term opportunity in the growing multi-billion dollar outdoor category.” .
Eoin Comerford, who has been CEO of Moosejaw since 2012 and vice president of Walmart since the acquisition, will report to Todd Spaletto, president of Public Lands and SVP of Dick’s Sporting Goods. Public Lands is an outdoor retailer that Dick’s founded in 2021 and now has seven stores in New York, Pennsylvania, Georgia, Massachusetts, Ohio and Virginia. It gives back 1% of its proceeds to national conservation efforts and local outdoor groups.
Moosejaw operates 12 stores in the Midwest and Great Lakes region but is primarily an e-commerce company.
“We admire what Moosejaw has accomplished over the past 30 years as a leader in the outdoor industry and look forward to the opportunity to share insights and learn from one another,” said Spaletto in the press release. “We believe there is potential to grow the Moosejaw business and provide its millions of loyal customers with compelling experiences and an expanded range of products.”