The off-market acquisition of Neptune Mountaineering in Boulder by Aspen-based Ute Mountaineer Ltd. will close on Thursday, according to a press release.
Neptune is “one of the world’s most respected independent outdoor retail stores,” the statement said.
It is also “a place for the famous Gary Neptune Museum,” said owners Andrew and Shelley Dunbar.
Ute Mountaineer owners Bob Wade and Maile Spung buy the business. The press release says the two companies overlap on products, customers, community engagement and their respective reputations.
Founder Gary Neptune said, “There is a similar legacy with these two stores, and I think there couldn’t be a better choice to carry on Neptune’s legacy. “
Neptune opened his store in 1973 to repair climbing equipment, ice axes, skis and ski boots, the store’s website said. Neptune retired and sold it in 2013; the Dunbars bought it four years later.
“It has undergone a transformational physical change,” the press release said, “and today it is an exciting retail space with a reputation for a stellar product selection and a committed and passionate staff.”
The Dunbars said the reinvigorated business means, “We did what we set out to do.”
The outdoor industry is booming, CEOs said at a BizWest panel discussion in May.
Neptune Mountaineering is the trading name of Neptune Outdoors LLC, the Secretary of State for Records.
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