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Dive Brief:
Dive Insight:
Olympia Sports was founded in 1975 in Maine, with the opening of its first store at the Maine Mall in South Portland.
In 2019, the company was acquired by specialty retailer JackRabbit, which was owned by private equity firm CriticalPoint Capital. Olympia Sports closed 76 stores as part of the transaction, according to the Portland Press Herald. On the same subject : College Sports is waiting for signs from Notre Dame, but the independent Irish can afford to wait. Both brands were part of CriticalPoint Capital’s Running Specialty Group, to which the private equity firm added Shoes.com in January 2021.
JackRabbit was sold to Fleet Feet in December, while Olympia Sports remained in CriticalPoint Capital’s portfolio.
When Olympia Sports joined JackRabbit, it was touted as a way for JackRabbit to expand its footprint and presence in sporting goods. At the time, Olympia Sports president and founding family member Ed Manganello said the family was “pleased” with the sale.
“Olympia Sports, the Manganello family and our dedicated employees have tirelessly served our customers and communities for nearly five decades,” Manganello said in 2019. “We would like to thank everyone who has been a part of our success, especially our employees. We have accomplished great things together. We look forward to passing Olympia to the JackRabbit family and believe they will be exceptional stewards of the Olympia brand and its long-time customers and suppliers.
