Genesco Inc. announced that its Hat World subsidiary has entered into an agreement to acquire the assets of Sports Avenue and related entities. Sports Avenue operates 46 retail stores across the United States and 13 ecommerce sites, selling officially licensed NFL, NCAA, MLB, NBA, NHL and NASCAR headwear, apparel and accessories, and had revenues of approximately $42 million for its most recent fiscal year.
Terms were not disclosed.
The transaction, which is subject to customary conditions, is expected to close in the second quarter of Genesco's fiscal 2011.
