Jun 30, 2015
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Boot Barn completes acquisition of Sheplers, Inc.

Jun 30, 2015

This Monday, Boot Barn Holdings, Inc. completed its acquisition of Sheplers, Inc. The company announced that it had begun the acquisition at the beginning of June.

Boot Barn

The acquisition is expected to grow Boot Barn’s e-commerce penetration by 11% and bring $6 million to $8 million to Boot Barn excluding an estimated one-time transaction and integration costs of $14 million, which will be completed by the end of calendar year 2016.
Jim Conroy, Chief Executive Officer of Boot Barn, said, “We are extremely pleased to have closed on our acquisition of Sheplers and appreciate the hard work of the Boot Barn and Sheplers’ teams for their efforts in completing this transaction in a timely manner. The acquisition of Sheplers is a significant step forward in our omni-channel strategy. This acquisition provides us with opportunities to create a dual-brand online offering, leverage Sheplers’ domestic and international customer traffic, and generate operating efficiencies across the combined online businesses.

Boot Barn financed the acquisition and refinanced $172 million of its and Sheplers’ current collective debts, which the company planned for weeks ago. Wells Fargo Bank, National Association and GCI Capital Markets LLC acted as agents for the refinancing. The purchase price for Sheplers on June 1 was $147 million in cash, which the Board of Directors of both companies agreed to. 

Boot Barn over 170 stores in 28 states, while Sheplers has 21 stores across the US but also has an online store and ships globally.

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