Employees buy Raleigh-based outdoor outfitter
Posted January 16, 2013 6:55 p.m. EST
Updated January 17, 2013 12:18 p.m. EST
Raleigh, N.C. — Four long-time employees of Raleigh's Great Outdoor Provision Co. have purchased a majority stake in the company, ensuring that the Southeast's largest independent specialty outdoor retailer stays local. The company has seven stores, with locations from Charlotte to Wilmington.
Molly Cherry, Travis Zarins, Bill Mauney and Chuck Millsap comprise the leadership team who made the investment. Store founder Tom Valone, who will stay on as chairman of the board, said, “Equity groups kept pitching me to expand like wildfire and then sell-out. But that’s not the adventure we intended."
Cherry pointed out that the team has a combined 90 years experience at the retailer, which was established in 1972.
“We will always be a place to not only purchase great outdoor brands but a friendly place to get information and meet others who are excited about getting outside," Mauney said. "We are looking forward to growing this company over the next 40 years.”