JackRabbit Running Chain Acquires Olympia Sports
Although it doesn’t have a direct impact on team dealers, a recent surprise move by run specialty chain JackRabbit early this month to acquire Olympia Sports, a Maine-based sporting goods retailer that operates about 140 stores, certainly does raise a few questions about who is buying who next.
JackRabbit, with financial backing from owner Critical Point Capital, is looking to become more of a full active lifestyle retailer rather than simply maintain its strong niche in the running business. Critical Point Capital has indicated that it will continue to operate Olympia as a full-line sporting goods store, but will close about half of its stores in the Northeast.
Olympia’s merchandise mix includes footwear, team sports apparel and equipment and licensed apparel. Executive offices and buying for Olympia will move to JackRabbit headquarters in Denver by the end of the first quarter.
Olympia was founded 45-years ago and at one point had more than 200 stores. JackRabbit operates 60 retail stores in 17 states. With the addition of Olympia, the consolidated company will operate 135 stores.