TSG Consumer Partners is considering selling outdoor specialty retailer Backcountry, according to Bloomberg.
Bloomberg, citing people with knowledge of the matter, said TSG is working with an investment bank to gauge potential interest and weigh its options.
The Daily reached out to Backcountry but the company declined to comment.
With estimated revenue of about $1 billion a year, Backcountry could be valued at hundreds of millions of dollars in a potential sale, Bloomberg reports.
TSG Consumer Partners acquired the Utah-based retailer in 2015 from Liberty Interactive Corporation.
The shop will be one of three new stores for the retailer in 2023. The three shops will join six other stores that Backcountry has opened in its brick-and-mortar push.
Backcountry started as an online outdoor retailer in 1996. The company’s expansion into brick-and-mortar draws on its gear expertise and e-commerce data to curate a customized offering for each of its store locations.