Overton's of Greenville has been acquired by Gander Mountain Company, the nation's largest retail network of stores for outdoor lifestyle products and services, for 70-million dollars.
Gander Mountain says the acquisition of the direct marketer of specialty water sports and related marine accessories allows it to accelerate its growth. Overton's had in excess of 90-million dollars in revenues and distributed over 15-million catalogs in 2006.
Mark Metcalfe, CEO of Overton's, said, "The entire Overton's team is tremendously excited by the opportunities this new ownership brings. We believe we can significantly contribute to the growth of Gander Mountain's Internet and catalog efforts, as well as increase the distribution of Overton's catalogs and drive sales of Overton's products in Gander Mountain's retail stores."
Overton's will continue to operate under the Overton's brand and as a wholly-owned subsidiary of Gander Mountain. Between Gander Mountain's and Overton's capabilities and resources Gander Mountain will be able to feature a full complement of internet and catalog offerings.
Gander Mountain is headquartered in in Saint Paul, Minnesota and has 115 stores in 23 states.