Foot Locker, the American sportswear and footwear company, has announced its move to buy Germany’s athletic retailer Runners Point Warenhandels GmbH for 72 million euros ($94 million). The German retailer currently operates over 200 stores under the names Runners Point and Sidestep, as well as the successful online store Tredex. While most of the retail locations are in Germany, there are a few shops in Austria, Switzerland, and the Netherlands.
Ken Hicks, CEO of Foot Locker, commented that the company is “excited to be adding Runners Point, a fast-growing, multi-format and multi-channel business, to our already-strong European operations. This acquisition will enhance our position in Germany, the strongest economy in Europe, and also provide us with additional banners to further diversify and expand our European business”
With record sales of 197 million euros ($254 million) last year, the purchase of Runners Point should help Foot Locker with their continued growth efforts throughout Europe. Once the deal is approved by German merger authorities, Foot Locker will be operating more than 3,500 stores in 23 countries.