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Boot Barn now has 43 stores in three different states
03
Jul '08
Marwit Capital Partners IIBoot Barn , L.P. (Marwit) announced that Boot Barn Holding Corp. (“Boot Barn” or “the Company”), its western footwear and apparel retailer, has completed the purchase of nine retail stores in California and Nevada from BTWW Retail, L.P. (BTWW).

Boot Barn is the largest western-themed specialty retailer in California and one of the largest in the U.S. This nine store acquisition expands Boot Barn's footprint to 43 retail stores, including 36 located in California, 5 in Nevada, and 2 in Arizona.

“We are pleased to support Boot Barn's acquisition of these nine stores, which gives us an even stronger platform on which to build the leading western-themed specialty retailer,” said Chris Britt, Marwit Managing Partner. Mr. Britt continued, “These stores add several attractive markets to our platform and significantly enhance Boot Barn's presence in Northern California and Nevada.”

David Browne, Marwit Principal, adds, “We are excited to have so quickly found an opportunity to accelerate our investment strategy for Boot Barn. The Company has expanded consistently and profitably over the past 30 years, and the completion of this acquisition demonstrates that there are numerous opportunities to continue that growth.”

The western wear market, including western boots, jeans, apparel, hats, gifts, belts and accessories, is approximately $3 billion at retail, growing 4% to 5% per year and has proven over many years to be stable through a variety of economic cycles. Under Pat Meany, CEO of Boot Barn, and John Turnbull, President and CFO, the Company continues to generate strong same store sales as well as to identify attractive new store opportunities, reflecting the strength of Boot Barn's brand and merchandising strategy.

The Company's growth in direct-to-consumer markets (i.e., internet, catalogs, and special events) is also growing at a healthy pace. Pat Meany said, “Boot Barn's business is made even stronger with the addition of these strategically located stores and we are pleased to be adding them to the Boot Barn family. With 43 retail locations, Boot Barn is positioned to better serve its retail customers and leverage its investments in inventory, branding, advertising and personnel.”

“Boot Barn's and Marwit's deep knowledge of the western wear market, as well as their ability to work quickly and collaboratively with BTWW to execute this important strategic divestiture, made them an ideal partner,” said Brad Wallace, a BTWW director. “We believe these nine stores will be in excellent hands as part of Boot Barn,” added Dan Gardenswartz, also a BTWW director.

Boot Barn


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