Portland, Ore., Sporting-goods retailer G.I. Joe's has been sold Gryphon Investors, a San Francisco-based private-equity firm. Terms of the transaction were not disclosed.
Norm Daniels, G.I. Joe's CEO, and his entire management team will remain in place and continue to own a substantial share of the company. The transaction is expected to close later this month, contingent upon a favorable vote by G.I. Joe shareholders. G.I. Joe’s operates 26 stores in Oregon and Washington.