DLTR, an urban chain based in Hanover, MD, has reached an agreement to merge with Villa, an urban specialist based in Philadelphia.
A source close to the deal said a letter of intent has been signed and the deal is expected to officially close by the end of the week. SGI (Sporting Goods Intelligence) first reported on the news.
According to the SGB 2016 Retail Top 100, Villa, formerly known as Sneaker Villa, had 120 stores and sales of $225 million in 2016. The company, acquired by Goode Partners in 2013, expanded from 33 doors at the end of 2011 to 120 by the end of close of 2015. While many of its stores are in the Philadelphia region, it recently expanded its presence into Northern Ohio and upstate New York, Chicago, Detroit, Minneapolis and Milwaukee.
DTLR, with a focus on stores in Maryland, Virginia, Georgia and Washington DC, had 102 stores and sales of $230 million, according to the SGB 2016 Retail Top 100. DTLR was formerly known as Downtown Locker Room.
Photo courtesy DLTR