Hat World acquires assets of Sports Fan-Attic

Hat World, Inc., a retailer of athletic and fashion headwear and a subsidiary of Genesco, Inc., has acquired the assets of Sports Fan-Attic, a retailer of licensed sports headwear, apparel, accessories and novelties.

Genesco is a retailer of branded footwear, licensed and branded headwear, and a wholesaler of branded footwear. All the parties involved in the transaction are based in the US.

Sports Fan-A generated revenues of approximately $30 million for the 12 months ended September 30, 2009.

Deal Type    Acquisition
Sub-Category Asset Purchase
Deal Status  Completed: 2009-11-03

Deal Participants

Target (Company)   Sports Fan-Attic - Assets
Acquirer (Company) Hat World
Vendor (Company)   Sports Fan-Attic

Deal Rationale

The acquisition provides Hat World an additional opportunity for growth, both through organic new store growth and through future acquisitions of regional players in this highly fragmented market. Sports Fan-Attic is a natural addition to Hat World's business and is the potential for operational synergies from the acquisition.

Related terms: acquisition, apparel, business, fashion, market, sports