In a transaction totaling some $51 million Walmart has acquired outdoor retail giant Moosejaw, whose portfolio stretches into cycling goods.
Closed on February 13th, the buyout is largely seen as a move allowing the Walmart group to go head to head with Amazon.com. Though primarily offering outdoor goods, Moosejaw’s portfolio extends in select areas of cycling clothing and accessories.
The firm, including its 350-plus strong employee base will be retained, as will CEO Eoin Comerford.
The firm also has ten bricks and mortar stores in the U.S.
Read more detail on SGBOnline here.