RICHMOND, VA – September 4, 2012 – Matrix Capital Markets Group, Inc. is pleased to announce the sale of RCC Western Stores (“RCC”) to Boot Barn. Headquartered in Rapid City, South Dakota, RCC has become one of America’s foremost western apparel and boot retailers. Boot Barn, headquartered in Irvine, CA, is one the largest Western Wear retailers in the nation.
Matrix Capital Markets Group served as exclusive financial advisor to RCC Western Stores and its shareholders. The transaction was led by Jeff Moore, Managing Director, Katie Millner, Associate, William O’Flaherty, Associate and Brady Hill, Analyst.
“I would like to thank Jeff Moore and his team for their professionalism and guidance on this transaction. They provided senior level attention throughout the entire process, and successfully conveyed RCC’s strong history and future growth prospects resulting in a value that exceeded my expectations,” said Bob Hoover, President and CEO of RCC Western Stores.
“At RCC Western Stores, our commitment has always been to provide our customers with the best, and we believe that by joining the Boot Barn family our customers will find excellent values on an even wider product offering in our stores. Like us, Boot Barn supports the communities they serve, including sponsoring over 300 community rodeos,” Mr. Hoover added.
“We have a tremendous amount of respect for Bob Hoover and his top notch management team, along with the strong company they have created. The management and customer service philosophies mirror Boot Barn’s, making RCC Western Stores a perfect fit, not only in terms of product offering, but also in commitment to the community and western lifestyle,” said Peter Starrett, Chairman and CEO of Boot Barn.
Founded in 1948, RCC is one of the oldest and most respected retailers in the western apparel and footwear industry with 30 stores in 12 states throughout the South and Midwest. With the acquisition of RCC, Boot Barn will operate 116 stores in 21 states as well as online shopping via their respective websites. The combined company will be the largest specialty retailer in the industry with stores coast to coast.
About Matrix Capital Markets Group
Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held, private-equity owned and publicly traded companies. Our primary advisory services include company sales, asset divestitures, recapitalizations, management buyouts, capital raises of debt & equity, corporate recovery, fairness opinions and valuations. Matrix has served clients in a wide range of industries, including industrial manufacturing and distribution, building products, business services, consumer products, healthcare, lumber and petroleum marketing & distribution. For additional information, please visit www.matrixcmg.com.
Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.