8:26 am Boot Barn (BOOT)
Boot Barn (BOOT 27.06) surged 10.6% yesterday to a new post-IPO high after announcing a definitive agreement to acquire Sheplers, a 116-year old western lifestyle company with 25 retail locations across the U.S, for a purchase price of $147 million in cash.
BOOT is also a lifestyle retailer that targets the western, country, and work retail markets. While the retail industry has a history of high competition, the western, country, and work retail market is still relatively fragmented leaving room for BOOT to continue growth. In its IPO prospectus, …More