DKS - Dick's Sporting Goods agrees to acquire Moosejaw from Walmart

Dick's Sporting Goods ( NYSE: DKS ) announced an agreement to acquire Moosejaw, an outdoor retailer owned by Walmart ( WMT ), for an undisclosed sum on Wednesday.

"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."

Dick’s noted that the acquired company currently operates 7 retail locations, but operates a “thriving e-commerce” business that should aid the overall company’s growth in the outdoor space. The deal is expected to close in March 2023.

While the financial details of the transaction were not revealed, Walmart ( WMT ) purchased the retailer for $51M in 2017.

Shares of Dick’s ( DKS ) rose 1.64% shortly after the announcement while Walmart ( WMT ) shares slipped about 2% , giving back modest gains after an inauspicious earnings result on Tuesday .

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