PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Liberty Media, which already owns three of the 100 largest Internet retailers plus travel site Expedia, has acquired outdoor sports and recreational products retailer Backcountry.com.
Liberty Media Corp., which already owns three of the 100 largest Internet retailers plus travel site Expedia, has acquired web-only retailer Backcountry.com, No. 150 in the Internet Retailer Top 500 Guide. The purchase price was not disclosed.
“This investment in Backcountry represents another step in our stated strategy to seek acquisitions of commerce companies that have unique value propositions, outstanding management teams and strong track records,” says Michael Zeisser, senior vice president of Liberty Media.
Backcountry.com, which sells through catalogs as well as the web, will become part of the Liberty Interactive group within Liberty Media that also includes QVC Inc., No. 14 in the Internet Retailer Top 500 Guide; IAC/Interactive Corp., No. 23 in the Internet Retailer Top 500 Guide; and Provide Commerce Inc., No. 56 in the Internet Retailer Top 500 Guide. Liberty Interactive reported 2006 revenue of $7.3 billion.
Backcountry.com reported sales of $82.1 million in 2006, up 58% from $52.0 million in 2005. Besides the Backcountry.com web site, the company also operates BackcountryOutlet.com, Dogfunk.com, Tramdock.com, SteepandCheap.com and WhiskeyMilitia.com. Backcountry.com was founded in 1996 and is based in Park City, UT. Jim Holland is CEO and John Bresee is president. No management changes are expected, the company says.