const regex = /(.+> )?([^>]+)(.+)? > \2(.+)?/gm;
// Alternative syntax using RegExp constructor
// const regex = new RegExp('(.+> )?([^>]+)(.+)? > \\2(.+)?', 'gm')
const str = ` Boating > Anchoring > Accessories > Anchors/Chain/Rope
Boating > Safety > Fire & Vapor Detectors > Fume Detectors
Clothing > Sportswear > Shirts > T-Shirts Polo
Gear > Knives & Tools > Knives Fixed Blade > Fixed Blade Knives
Hunting > Tree Stands > Accessories > Tree Stands and Accessories
Optics > Rings & Mounts > Scope Rings > Rings & Accessories
Gear > Climbing & Rappelling > Rope Cord Webbing > Rope Cord & Webbing
Fishing > Rod & Reel Combos > Rod & Reel Combos > Types of Fishing > Fishing Gear - Kids > Offshore Fishing Gear > Saltwater Fly Fishing Gear > Trolling Fishing Gear
Fishing > Lures > Hard Baits > Lures Hard Baits
`;
const subst = `\1\2\3\4`;
// The substituted value will be contained in the result variable
const result = str.replace(regex, subst);
console.log('Substitution result: ', result);
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for JavaScript, please visit: https://developer.mozilla.org/en/docs/Web/JavaScript/Guide/Regular_Expressions