Walmart buys Michigan-based Moosejaw for $51 million in cash
Outdoor recreation and apparel company Moosejaw has just been gobbled up by Walmart for $51 million according to this Free Press report. Hopefully, the mass retailer doesn’t destroy the Michigan-based company.
Wal-Mart is buying Moosejaw — a Madison Heights-based company that specializes in outdoor recreation apparel and gear and is known for its quirky, cutting-edge marketing — in a bid to strengthen the global retail juggernaut’s online offerings for $51 million in cash, the companies announced today.
Wal-Mart said it will continue to operate the Moosejaw website as a standalone site and its10 stores as separate retail outlets. Its 350 employees will remain in Michigan.
“From the customer’s perspective they really won’t see much change in Moosejaw.com or our stores,” Eoin Comerford, Moosejaw’s CEO, told the Free Press. “We are going to continue to be an outdoor specialty retailer of premium brands. You are going to have the same Moosejaw voice and the same Moosejaw Madness is going to be very prevalent.”