2016

Vestis Retail Group has restructured and sold Eastern Mountain Sports and Bob’s Stores to affiliates of Versa Capital Management

Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Vestis Retail Group LLC (“Vestis” or the “Company”) has successfully restructured and recapitalized Eastern Mountain Sports (“EMS”) and Bob’s Stores (“Bob’s”) through a section 363 sale to an affiliate of Versa Capital Management LLC (“Versa”). The Company’s remaining retailer, Sport Chalet, was concurrently divested through an organized wind down.

EMS and Bob’s will operate as business units of Eastern Outfitters, LLC (“Eastern Outfitters”), a new holding company headquartered in Meriden, Connecticut, under the leadership of the former senior management team of Vestis. EMS is a leading multi-channel retailer of outdoor sports apparel and equipment with stores in the Northeastern and Mid-Atlantic states. Bob’s is a value-oriented retailer of footwear, apparel and work wear in the Northeastern states. Together, EMS and Bob’s operate over 80 stores with annual revenue of over $400 million.

Lincoln acted as exclusive investment banker to Vestis, working closely with the Company’s management team and stakeholders throughout the Chapter 11 Bankruptcy case and §363 sale process. This involved expeditiously managing a broad sale process, negotiating the terms of the asset purchase agreement and debtor-in-possession financing, assisting in the placement and closing of exit financing and advising on other aspects of the Chapter 11 process.

About Eastern Outfitters LLC

Meriden, Connecticut-based Eastern Outfitters is a fully integrated retailer comprised of Bob’s Stores and Eastern Mountain Sports. The Company provides a unique portfolio of apparel, footwear and sporting goods through approximately 80 retail locations in the Northeastern United States, as well as a robust ecommerce platform.

Connect with a Senior Team Member

Meet our Senior Team

Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.