We have already reported on the sale of Backcountry.com by Liberty Interactive Corp. to an investment firm, TSG Consumer Partners (Compass no. 8-12+13 of July 13). Liberty has now disclosed that it made a gain of $105 million on the transaction, which gave Backcounty.com a valuation of 11 times projected earnings before amortization (Ebitda), or close to the multiple paid by Vista Outdoor for Camelbak (see our previous issue). Nevertheless, the American e-commerce operation, which also owns Bergfreunde.de in Germany, had a loss of $3 million on sales of $227 million for the first half of 2015. The website makes most of its profits in the second half of the year.
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