US: Finish Line teams up with Gart Capital to drive growth
US sports wear chain The Finish Line has announced that private-equity firm Gart Capital Partners (GCP) plans to invest US$10m in the company's Running Specialty Group.
The investment aims to create the nation's single largest operator within the growing specialty running business. Finish Line will remain the majority owner of the Running Specialty Group.
GCP Partner Ken Gart said this is a "time of change within specialty running".
The headquarters of the Running Specialty Group will be relocated to Denver, where GCP will manage all day-to-day operations as well as merchandising.
Finish Line said it will "continue to leverage its strengths as a leading omni-channel retailer, providing direct logistics, marketing and IT support along with digital expertise".
The venture builds upon Finish Line's 2011 acquisition of an 18-store chain of speciality running shops operating under The Running Company banner.
Glenn Lyon, Finish Line chairman and chief executive, said: "We look forward to growing this business with GCP and are confident that our association will accelerate progress and perhaps serve as an incubator for expansion outside of speciality running down the road."
The Gart Companies, Gart Capital Partners' parent company, owns retail businesses including GolfTEC, Colorado Bag'n Baggage and Colorado mountain resort Powderhorn.
This article was originally published on 2 April.
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