Boot Barn Holdings announced the completion of its previously announced acquisition of Sheplers, a 115-year old western lifestyle company with 25 retail locations across the United States and an industry-leading e-commerce business.

The company financed the acquisition and refinanced approximately $172 million of its and Sheplers’ existing indebtedness with an initial borrowing of $57 million under a new $125 million syndicated senior secured asset-based revolving credit facility for which Wells Fargo Bank, acted as agent, and a $200 million syndicated senior secured term loan for which GCI Capital Markets acted as agent.

The acquisition is expected to generate $6 million to $8 million of annual synergies and be accretive to fiscal 2016 earnings (ended March 26, 2016), excluding estimated one-time transaction and integration costs of $14 million, and to be approximately 10% accretive post integration, which is expected to be completed in calendar year 2016.

Boot Barn is a retailer of western and work-related footwear, apparel and accessories for men, women and children. Sheplers provides footwear, apparel and accessories for the western lifestyle.