Walmart is selling outdoor retailer Moosejaw, with DIck’s Sporting Goods buying it for an undisclosed amount.
Walmart purchased Moosejaw in 2017 for $51 million as it was ramping up its online offerings. The purchase seemed like a good fit, given Moosejaw’s successful e-commerce presence.
Just a few years later, Walmart is now offloading the company, selling it to Dick’s — which is arguably an even better fit, given both companies’ focus on outdoor apparel and gear.
“We admire what Moosejaw has accomplished over the past 30 years as leaders in the outdoor industry and look forward to the opportunity to share insights and learn from one another,” said Todd Spaletto, President, Public Lands and Senior Vice President, DICK’S Sporting Goods. “We believe there’s potential to grow the Moosejaw business and provide compelling experiences and an expanded product assortment to its millions of loyal customers.”
The deal is expected to close March 2023. The financial terms of the deal were not disclosed.