The braided leather "Y'all" bracelet, part of the new Bourbon & Boots by Dillard's line.
Little Rock startup Bourbon & Boots, the Southern-themed online marketplace that offers more than 2,000 artisan items with more than 250,000 customers across the country, has been acquired by XCelerate Capital.
XCelerate, the early-stage venture fund started last year by Little Rock tech founder Rod Ford, formed an operating company, Bourbon & Boots Acqusition Co., to take over B&B’s assets.
The price of the deal was not disclosed.
Bourbon & Boots founder Matt Price will not be involved in the operation of the new venture but will retain an equity position along with all the startup’s original investors.
XCelerate partner Dustin Williams will take over the new company as CEO and begin the process of hiring eight new positions related to merchandising and digital marketing in an effort to accelerate growth, Ford said.
He told Arkansas Business that the Bourbon & Boots storefront on Main Street in North Little Rock’s Argenta District would remain open for six months as the XCelerate team looks for a bigger space, preferably in downtown Little Rock or North Little Rock, for the store and company headquarters.
In February, Bourbon & Boots launched a line of Southern-themed jewelry at Dillard’s. Ford said he was pleased with the Dillard’s relationship and hoped to expand it in the near future.
Price said in a press release that he was proud of B&B’s “innovative brand.”
“We were very rapidly able to establish a unique brand and a company positioned to scale,” he said. “XCelerate Capital is the perfect capital partner to bring in a highly experienced operating team and take the brand to the next level. I am confident of their ultimate success.”
Ford said Price “did an outstanding job of creating a highly distinguishable brand with a cult-like following and now is the time in its lifecycle to recapitalize the business and bring in a highly experienced operating team to accelerate the brand to its next level of success.”
He said XCelerate Capital would “supply new growth capital and add a new operating team supported by XCelerate board members, consultants, and advisors who are experienced interactive executives from companies such as TJMaxx Online, Charming Shoppes and Hayneedle.”
Last week, XCelerate announced its $250,000 investment in Rogers startup Real Agent Guard and in February, it provided a $250,000 round to Little Rock’s Tagless Style, which went through the fall 2014 installment of the ARK Challenge accelerator program. Tagless and Bourbon & Boots are Innovate Arkansas client firms.
In January, XCelerate launched an entrepreneurial scholarship program.
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