Foot Locker gets approval for Runners Point purchase
New York -- Foot Locker has received approval from the Federal Cartel Office in Germany to complete its acquisition of Runners Point Warenhandelsgesellschaft mbH (RPG), initially announced in May 2013. RPG is majority owned by private equity group Hannover Finanz and operates more than 200 specialty athletic retail stores in Germany, Austria, The Netherlands and Switzerland under various banners, as well as an e-commerce site.
The transaction, valued at roughly $94 million, is expected to close early next month.
As of May 4, Foot Locker operated 3,321 stores in 23 countries in North America, Europe, Australia, and New Zealand, as well as several e-commerce sites.