Snipes says the acquisition of Jimmy Jazz will increase its store count across the US to almost 270, making it the largest acquisition in the company’s history.

Snipes is a global sneaker and streetwear retailer with more than 450 stores in Europe and the United States combined. The multichannel company says it differentiates itself through deep roots in hip hop culture and a community-centric alignment based on supporting, empowering, and celebrating street culture.

Headquartered in Secaucus, New Jersey, Jimmy Jazz operates nearly 170 stores in the U. across the East Coast, Southeast, and Midwest.

“Despite the pandemic, Snipes continues to grow. Our ‘community first’ concept will keep our focus on our core customer. We are very excited to deepen our commitment to the communities we serve by partnering with Jimmy Jazz, ” says Snipes CEO and founder Sven Voth.

Jimmy Khezrie, owner of Jimmy Jazz, adds: “In Snipe, we’ve gained a strong, global partner who shares our passion and who will appropriately continue our legacy as well as our investment in our teams and stores.”

The expansion will grow Snipes’ total global store network from about 450 stores to more than 600. The parties have agreed not to disclose the terms of the deal, which is expected to be completed by the end of the year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In other M&A news, US footwear retailer Shoe Carnival has acquired substantially all of the assets of privately-held, family-owned Shoe Station, Inc for US$67m, subject to customary adjustments.