LIDS Sports completes Sports Avenue acquisition

12 Oct '10

1 min read

Genesco Inc. announced that its Hat World subsidiary, which operates the LIDS Sports business, has completed its previously announced acquisition of the assets of Sports Avenue and related entities. Sports Avenue operates 48 retail stores across the United States and 12 ecommerce sites, selling officially licensed NFL, NCAA, MLB, NBA, NHL and NASCAR headwear, apparel and accessories, and had revenues of approximately $42 million for its most recent fiscal year.

LIDS Sports President Kenneth Kocher said, "Sports Avenue represents an important addition to our growing LIDS Locker Room fan shop business. Not only does it add a significant number of stores and websites to our base, but it also takes us into new strategic territory with several licensed, single-team shops."

Genesco Chairman, President and Chief Executive Officer Robert J. Dennis added, "The Sports Avenue acquisition further strengthens our leadership in the licensed sports merchandise market, broadening our base in support of our mission to make LIDS Sports the first brand sports fans think of as a resource in connection with both the teams they play for and the teams they root for."

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