Boot Barn acquires 14 retail stores in Wyoming & Nevada

11 Dec '08

3 min read

Marwit Capital Partners II L.P. announced that Boot Barn Holding Corp. (“Boot Barn” or “the Company”), its western footwear and apparel retailer, completed the purchase of fourteen retail stores in Wyoming (12) and Nevada (2) from BTWW Retail, L.P. (“BTWW”).

The transaction was completed pursuant to BTWW's sale of assets under Section 363 of the U.S. Bankruptcy Code and closed effective November 26, 2008. The assets purchased include 12 stores located in Wyoming, two stores in northern Nevada and certain trademarks and other intellectual property of BTWW.

In addition to adding the very attractive Wyoming market to Boot Barn's geographic footprint, this acquisition firms Boot Barn's leadership position as the largest western themed retailer in the U.S. Boot Barn now operates 81 retail stores in five states, including 38 located in California, 14 in Arizona, 12 in Wyoming, 9 in New Mexico and 8 in Nevada. Some recently acquired stores will continue for a time to operate under the Corral West name, although the Company anticipates rebranding them as Boot Barns in the near to medium term.

Boot Barn has completed three separate store acquisitions from BTWW for a combined total of 45 stores in 2008. Chris Britt, Managing Partner of Marwit Capital, said, “We are excited to have the opportunity to acquire these well-established and strongly performing stores in the highly desirable Wyoming market. Wyoming is one of the strongest western retail markets in the country and these stores represent an unprecedented opportunity to acquire a broad presence in this market.”

"Our vision for Boot Barn has always been to selectively pursue add-on acquisitions to expand our store footprint in strong markets. In 2008, we've been presented with terrific opportunities to enhance Boot Barn's asset base with high quality stores and locations," said David Browne, Principal of Marwit Capital. He continued, “Pat Meany, CEO, John Turnbull, President, and the entire Boot Barn management team are expertly managing the significant expansion of Boot Barn's business and new store integration.”

Pat Meany said, “The Boot Barn team is looking forward to the opportunity to offer customers in these new markets the products, selection, service and high quality for which Boot Barn is known. We will work hard to minimize disruptions for customers, suppliers and employees. It has been a very busy and productive year for Boot Barn and we are progressing well ahead of plan in integrating our newly acquired stores and preparing for the busy holiday season.”

Boot Barn Holding Corp

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