Fleet Feet, a franchisor of locally owned and operated running stores, has purchased JackRabbit, the second-largest running specialty retailer in the United States, from affiliates of CriticalPoint Capital.
The deal is expected to close in early December, including all JackRabbit locations and its e-commerce business. JackRabbit was founded as Running Specialty Group in 2011, as a specialty running store consolidation effort by The Finish Line.
The acquisition is the latest strategic investment made by Fleet Feet as it increases its brick-and-mortar portfolio. Fleet Feet intends to bolster its omnichannel approach through infusion of brand experience at critical customer touchpoints.
“This acquisition creates a nationally connected-and-supported network of 250 community-based retail stores, all poised to deliver an exceptional experience for customers, and I couldn’t think of a better outcome for all involved,” says Joey Pointer, CEO and president of Fleet Feet.