CHEYENNE, WY (BRAIN) — Outdoor gear close-out retailer Sierra Trading Post has been sold to The TJX Companies Inc. for $200 million, the companies announced Friday.
TJX, based in Framingham, Massachusetts, owns the T.J. Maxx, Marshalls and HomeGoods off-price retail chains.
Sierra Trading Post was founded by Keith Richardson in 1989. The company has grown rapidly since it launched its e-commerce business in 1999, posting sales of more than $200 million this year. The store frequently offers cycling clothing, components and even complete bikes at closeout prices.
As part of this transaction, TJX acquired Sierra's office, fulfillment center and photography studios in Cheyenne, Wyoming, as well as its customer call centers in Cheyenne and Cody, Wyoming, and its four outlet stores in Idaho, Nevada and Wyoming.
TJX chief executive Carol Meyrowitz said Sierra's e-commerce experience was major attraction.
"We continue to plan on launching e-commerce sites for TJX brands and this acquisition adds immediate scale, capabilities and infrastructure in e-commerce, which we can leverage in that regard. We believe we will be able to build upon this platform as we continue to develop our e-commerce strategy," she said.
"Further, we are confident that TJX can help grow the Sierra business profitably through our buying scale, marketing and our other capabilities."
