Littleton, Mass. – Specialty equestrian retailer Dover Saddlery Inc. is jumping into a new business arrangement.
Dover Saddlery has completed its merger with a company formed by Webster Capital. Dover shareholders will receive $8.50 per share in cash in the merger, and all in-the-money stock options and warrants will be cashed out.
"With Webster's consumer experience, we are looking forward to growing our retail store base and pursuing other exciting expansion plans,” said Stephen L. Day, CEO and president of Dover Saddlery. “Dover Saddlery and its employees will benefit from this partnership with Webster, which has extensive experience and business connections in the retail and direct-to-consumer sectors."