Great Outdoor Provision Co., a homegrown business started by nature lovers 40 years ago, is passing the reins of the company from its graying founder to new owners.

The Raleigh company said Wednesday that four managers acquired a major equity stake and will eventually own the entire company. The terms were not disclosed.

Co-founder Tom Valone, 62, remains chairman of the board.

Great Outdoor Provision Co., which sells hiking, camping, backpacking and other outdoor gear, has resisted the shift to online sales and does business exclusively through seven retail stores in the state.