Genesco Inc. announced that its Hat World subsidiary acquired Sports Fan-Attic, a Tampa, Fla.-based retailer of licensed sports headwear, apparel, accessories, and novelties. Sports Fan-Attic operates 37 stores largely in regional malls in seven states. Terms were not disclosed.
Founded in 1994 and controlled by brothers Jim and Bob Durda, Sports Fan-Attic's sales reached $30 million for the year ended Sept. 30.
Hat World president Kenneth Kocher said the acquisition is a natural addition to Hat World's business with opportunities for “meaningful” operational synergies. “Our businesses appeal to the same core customer with products from a vendor base that overlaps considerably, and we share an approach to merchandising that focuses on tailoring a store's product selection to the local market,” said Kocher.
Genesco president and CEO Robert Dennis added that the Sports Fan-Attic team had built “an impressive consumer franchise and maintained solid results, even in the current economic climate Our ambition is to build a national chain with the same scale-based advantages that Hat World enjoys today, and we look forward to working with the Sports Fan-Attic leadership team to achieve this goal.”
Genesco earlier this year acquired two other regional retailers: Impact Sports in Madison, Wis., and Great Plains Sports in St. Paul, Minn. Both are also being operated by Hat World.
