logo-loader
viewBoot Barn Holdings Inc

ABC-Mart to buy LaCrosse Footwear for $138-mln

footprint_350_4ff70a9a86e79.jpg

Japan-based athletic retailer ABC-Mart (TYO:2670) said Friday it has struck a deal to buy U.S.-based footwear maker LaCrosse (NASDAQ:BOOT) for $138 million in cash.

The $20 per share purchase price is an 82 per cent premium to LaCrosse’s Thursday closing stock price.

The company saw its stock skyrocket by more than 81 per cent to hit $19.88 on the Nasdaq.

Founded in 1897, LaCrosse makes mutli-season leather and rubber boots, hunting boots and fire boots.

LaCrosse’s board and some senior management – which collectively hold eight per cent of the footwear company’s stock – have already agreed to tender their shares to the deal.

After the deal’s completion, LaCrosse will become a unit of ABC-Mart and will continue to operate in Portland, Oregon.

The transaction, which is still subject to customary closing conditions, is slated to close by the third quarter 2012.

Quick facts: Boot Barn Holdings Inc

Price: 42.11 USD

NYSE:BOOT
Market: NYSE
Market Cap: $1.2 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

ROBO Global team discuss its focus on innovation and key developments in AI

ROBO Global's director of research Jeremie Capron and strategic adviser Wyatt Newman discuss the firm's focus on technology innovation and the importance of taking a longer-term view when it comes to its investments. They also discuss what they consider to be some of the key upcoming...

2 hours, 44 minutes ago

2 min read