US: Genesco's Hat World acquires Sports Fan-Attic

4 November 2009 | Source: just-style.com

Genesco subsidiary Hat World has moved to acquire rival retailer Sports Fan-Attic for an undisclosed sum.

Sports Fan-Attic, a retailer of sports headwear, apparel, accessories and novelties, has 37 stores in seven states, and recorded revenues of US$30m in the year to 30 September.

Hat World president Kenneth Kocher said the retailer was a natural addition to Hat World's business, adding that the deal should lead to "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," Kocher said.

"Additionally, we see great long-term potential for growing the Sports Fan-Attic store base, and look forward to bringing Genesco's collective strength in the mall real estate market and our experience in managing new store growth to that process."