Vestis Retail Group Buys Sport Chalet for $17 Million

Vestis_LogoVestis Retail Group will acquire sporting goods store operator Sport Chalet in a deal which would create one of the largest sporting goods retailers in the U.S.

Vestis, which already operates Bob’s Stores and Eastern Mountain Sports, said the deal would combine Sport Chalet’s 50 stores across the western U.S. with the company’s existing footprint on the East Coast.

Together the retailers would have more than 150 stores and $800 million in sales for the 12 months to December 31 2013, said Vestis, adding that it did not foresee any store closures as a result of the acquisition.

“Sport Chalet greatly strengthens our position in the active lifestyle and outdoor categories, provides scale from which to grow, and diversifies our geographic footprint,” said Vestis CEO Mark Walsh.

“Sport Chalet is in the midst of a transformation that is making technology and customer service central to its operations.

“It has made significant strides recently, as evidenced by its market-leading position in California, its Action Pass customer loyalty program and its strong mobile sales platform.”

Craig Levra will stay on as Sport Chalet CEO, running the business from Los Angeles and reporting to Walsh.

The deal involves a cash offer of $1.20 per share of Sport Chalet.

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