Purchase will continue to bolster e-commerce initiatives for the world’s largest retailer.
Walmart has acquired the online outdoor retailer Moosejaw for approximately $51 million.
Additional financial terms of the transaction were not disclosed; however, the online retailer will continue to operate its site and stores as it previously has and will be run as a standalone and complementary brand to Walmart’s other e-commerce platforms.
Furthermore, the company’s chief executive officer Eoin Comerford, his executive team and Moosejaw’s 350-plus employees will continue to be based in Michigan and will join Walmart’s U.S. e-commerce retail organization.
Moosejaw suppliers will also have access to serve more consumers through Jet.com and Walmart-owned e-commerce sites.
Moosejaw was founded in 1992 and is an online active outdoor retailer that carries more than 400 brands–including Patagonia, The North Face, Marmot, Arc’teryx and more–as well as an extensive assortment of apparel and gear for climbing, hiking, camping, snow sports, yoga, swimming and biking. The company also has 10 brick-and-mortar stores.
The acquisition closed on Monday, Feb. 13.