Equity firm completes sale of Finish Line’s specialty running unit
It’s a done deal.
Private investment firm CriticalPoint Capital on Thursday that it has completed the acquisition of JackRabbit and its respective stores from The Finish Line.
The acquired company, its stores and e-commerce platform will continue to operate under the JackRabbit brand. At the end of 2016, there were 65 JackRabbit and JackRabbit-affiliated stores in 18 states.
"During this process it was clear that CriticalPoint Capital shared in our vision and strategy for the JackRabbit brand and would provide the expertise and support to accelerate the execution and growth of the brand," said Bill Kirkendall, CEO of JackRabbit.
CriticalPoint said will support JackRabbit's continued organic growth strategy, as well as provide the company with additional capital to pursue future acquisitions, which is expected to result in market share gains in the years ahead.
"This acquisition gives us an opportunity to capitalize upon the rapid change in consumer consumption behavior while partnering with one of the top players in the run specialty space," commented Matt Young, founder and CEO of CPC. "We are excited to be part of JackRabbit's brand expansion and development at both the store level and through the e-commerce platform."