Boot Barn Holdings, Inc. Announces Definitive Agreement to Acquire Sheplers, Inc.
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Piper Jaffray Remains Bullish on Boot Barn Holdings (BOOT) Following Announced Acquisition Agreement of Sheplers
June 2, 2015 7:45 AM EDTPiper Jaffray reiterates an Overweight rating and $29.00 price target on Boot Barn (NYSE: BOOT) following the announced agreement to acquire Sheplers, Inc. BOOT expects to close the transaction the week of June 29th, 2015.
Analyst Peter Keith commented, "This morning, BOOT announced a... More
Boot Barn Holdings (BOOT) to Acquire Sheplers in $147M Cash Deal
June 1, 2015 6:09 AM EDTBoot Barn Holdings (NYSE: BOOT) has entered into a definitive agreement to acquire Sheplers, Inc. (Sheplers), a 116-year old western lifestyle company with 25 retail locations across the United States and an industry-leading e-commerce business, for a purchase price of $147 million in cash. For the twelve months ended March 28, 2015, Sheplers had net sales of approximately $157 million, which included $66 million of e-commerce sales, and Adjusted EBITDA of $14.9 million (see reconciliation to Adjusted EBITDA).
The Sheplers acquisition represents a significant step forward for Boot Barns omni-channel strategy, growing Boot Barns e-commerce penetration from 4% to 15%, based on the... More
