Foot Locker Completes Runners Point Acquisition

(RTTNews) - Foot Locker, Inc. (FL) said Wednesday that it has completed its acquisition of Runners Point Group, the specialty athletic store and online retailer based in Recklinghausen, Germany.

In May, Foot Locker agreed to buy Runners Point for total cash consideration of €72 million, or about $94 million.

Runners Point Group operates more than 200 athletic retail stores, mainly in Germany under the Runners Point and Sidestep banners, as well as an online business. Runners Point Group had 2012 sales of €197 million, or US$254 million. The acquisition of Runners Point Group represents a significant addition to Foot Locker's European footprint, where it already operates more than 600 Foot Locker stores and had revenue of more than $1 billion in 2012.

The results of the two companies will be combined with an effective date of July 7.