MANHATTAN BEACH, Calif., Dec. 15, 2021 /PRNewswire/ — Affiliates of CriticalPoint Capital, LLC (“CriticalPoint”) are pleased to announce the closing of the sale of JackRabbit (the “Company”) to Fleet Feet. Headquartered in Denver, Colorado, JackRabbit is the second-largest running specialty retailer in the U.S. serving a broad audience of runners, athletes, and fitness enthusiasts seeking high performance footwear and training gear. With headquarters in Carrboro, North Carolina, Fleet Feet is the largest franchisor of locally owned and operated running stores.
Originally formed in 2011 as a specialty running store consolidation effort by The Finish Line, JackRabbit was acquired by affiliates of CriticalPoint in 2017. Today, it is a leading omni-channel specialty running retailer with 56 brick-and-mortar locations across 15 states and a thriving e-commerce business. During CriticalPoint’s ownership, the management team executed a complex carve-out, invested into and significantly grew the e-commerce channel and optimized the brick-and-mortar locations to achieve significant revenue and earnings growth.
“Building JackRabbit into an omni-channel leader in running specialty is a testament to a dedicated and passionate team” said Bill Kirkendall, JackRabbit’s CEO. “I would like to thank the JackRabbit associates and CriticalPoint for their support in helping make our shared vision become reality.”
“The combination of JackRabbit and Fleet Feet establishes a complementary footprint and e-commerce skill set to further enhance and serve the active lifestyle and running communities,” said Brad Holtmeier, Partner at CriticalPoint. “Under Bill’s outstanding leadership, the team has accomplished the goals it set for JackRabbit five years ago. We’re confident the business will continue to thrive into the future.”
The sale of JackRabbit represents CriticalPoint’s third successful exit in the last fifteen months, following the sale of Arlon EMD to the Taiwanese-based and publicly traded Elite Material Co. Ltd. and the sale of Organized SportsWear to Spiritwear.com.
About CriticalPoint Capital
Founded in 2012, CriticalPoint Capital is a private investment firm based in Manhattan Beach, CA. The firm is focused on acquiring companies with long-term value creation opportunities and partnering with management teams that can benefit from patient capital and a thoughtful approach to growth. CriticalPoint’s portfolio is comprised of investments across a wide variety of industries and the firm looks to grow through additional platform and add-on acquisitions. www.criticalpointcapital.com
Headquartered in Denver, CO, JackRabbit is a leading omni-channel specialty running retailer in the United States focused on delivering products and solutions that serve the needs of the active and running communities.
About Fleet Feet
Founded in 1976, Fleet Feet is the largest franchisor of locally owned and operated running stores with 248 locations in 40 states and a national headquarters in Carrboro, N.C. Committed to offering personalized outfitting, robust running programs and rewards, community support and outreach, and 24 / 7 brand access at fleetfeet.com, each Fleet Feet location serves runners based on the belief that RUNNING CHANGES EVERYTHING®. Stay inspired, motivated and connected @fleetfeet.
SOURCE CriticalPoint Capital