By Anne D’Innocenzio, The Associated Press
NEW YORK — Walmart has acquired the outdoor clothing and gear seller Moosejaw for $51 million as it expands its online offerings.
The cash deal was announced Wednesday. Walmart says Madison Heights, Mich.-based Moosejaw, which is largely online and sells more than 400 brands, will keep operating its site and stores, including a shop at the Twenty Ninth Street Mall in Boulder.
The 350-plus employees in its main business will stay based in Michigan.
Walmart, which is trying to better compete with online leader Amazon.com, says buying Moosejaw gives it the experience of another well-established e-commerce player with strong industry relationships.
Bentonville, Ark.-based Walmart also purchased online marketplace Jet.com last year for $3 billion in cash plus $300 million in stock. Walmart’s online sales had been slowing over the past two years but notably accelerated during last year’s third quarter. It reports its fourth-quarter results next week.
