Expanding Footprint Stateside and Saving Jobs
- Mountain Warehouse acquires US outdoor retailer Eastern Mountain Sports for £7.6m
- 100+ jobs saved through the acquisition
- EMS brand, website, and 7 profitable stores purchased for £3.8m
- Other assets acquired for an additional £3.8m
- EMS to continue operating as a standalone brand within Mountain Warehouse group
- Potential expansion into Canada and Europe in the future
Outdoor retailer Mountain Warehouse has acquired US-based Eastern Mountain Sports (EMS) for £7.6 million ($10 million) to expand its presence in the United States. The deal includes the EMS brand, website, and seven profitable stores for £3.8 million ($5 million), as well as other assets for an additional £3.8 million. This acquisition saves over 100 jobs at EMS, which filed for Chapter 11 protection on June 18th. Mountain Warehouse plans to retain the iconic EMS brand and collaborate with top outdoor brands to grow the business. The company aims to expand into Canada and Europe in the future. Founder and CEO Mark Neale expressed confidence in the potential of the acquisition, stating that there is a ‘bright future’ ahead.
Image Credits: no
Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about Mountain Warehouse acquiring Eastern Mountain Sports, the number of stores involved, the cost of the acquisition, and the potential expansion into other territories. It also includes a quote from the founder and CEO of Mountain Warehouse discussing their plans for the brand.
Noise Level: 3
Noise Justification: The article provides relevant information about Mountain Warehouse acquiring Eastern Mountain Sports and plans for expansion into new territories, while also mentioning the cost-of-living impact on families. It does not contain irrelevant or misleading information, and offers some insights into the company’s strategy.
Financial Relevance: Yes
Financial Markets Impacted: Mountain Warehouse and Eastern Mountain Sports (EMS) companies
Financial Rating Justification: The article discusses the acquisition of EMS by Mountain Warehouse, which impacts both companies’ financials and could potentially affect their market performance.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text
www.retailgazette.co.uk