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Backcountry is officially under new ownership.
Multi-brand technology platform CSC Generation Enterprise said Monday that is has acquired the digitally-led Park City, Utah-based outdoor retailer. Under the deal, the terms of which were not disclosed, CSC has acquired Backcountry along with its family of brands such as MotoSport, Competitive Cyclist and Steep and Cheap.
CSC owns and operates more than 10 brands including Sur La Table, One Kings Lane and now Backcountry, which will continue to operate under its brand name.
“We were drawn to Backcountry for several compelling reasons: their extensive and varied product range, deep connections with the outdoor community, and the remarkable passion and loyalty of their customers,” said CSC founder and chief executive officer Justin Yoshimura in a statement. “By integrating their strengths with our commitment to digital innovation, we believe there is significant potential for continued growth.”
Backcountry was founded in 1996 in Park City, Utah as a website selling outdoor gear. TSG Consumer Partners acquired Backcountry in 2015 with a plan to expand the retailer into new categories and international markets. Although digitally-led, Backcountry opened two physical stores in 2021 and continued to expand its fleet to a total of six stores through 2022. In 2023, the retailer opened three new stores and announced its entry into wholesale by offering its in-house Backcountry products to other retailers across the U.S..
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Bloomberg reported last June that Backcountry’s former owner TSG Consumer Partners was weighing a potential sale of the outdoor e-commerce retailer that could be valued at hundreds of millions of dollars. At the time, the report stated that Backcountry sees close to $1 billion a year in revenue.
“Joining CSC is a significant milestone for us,” said Backcountry chief executive officer Melanie Cox in a statement. “Our team is enthusiastic about utilizing CSC’s expertise and resources to accelerate the Backcountry strategy. We are confident that this acquisition will enable us to expand our market presence and continue delivering outstanding outdoor experiences.”
J.P. Morgan Securities, LLC served as Backcountry’s financial advisor and Ropes & Gray served as legal counsel. Sheppard, Mullin, Richter & Hampton represented CSC.
The acquisition comes as the consumer deal market shows strong signs of a rebound . According to a July report from PwC, 52 percent of announced and completed M&A transactions in the first half of 2024 came from the retail sector. Across the entire consumer landscape, the report found that consumer deal volume was up 7 percent in the first four months of 2024 compared to the same prior the prior year. And total deal value in the first quarter of 2024 hit the highest levels since Q4 in 2022.
Throughout the first quarter, several executives from top shoe and retail brands indicated a desire to lean into more deal-making in the near future.
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