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Slide #10. Foot Locker, Inc. — Runners Point Group
Foot Locker, Inc. (NYSE:FL)
Runners Point Group
Foot Locker, Inc. (NYSE: FL), the New York-based specialty athletic retailer, announced today that it has signed a definitive agreement to acquire Runners Point Warenhandelsges. mbH ("RPG"), a specialty athletic store and online retailer based in Recklinghausen, Germany, for total cash consideration of 72 million euros (approximately $94 million). RPG is currently majority owned by the private equity firm HANNOVER Finanz. The Company's Chief Executive Office, Otto Hurler, and Chief Financial Officer, Harald Wittig own the balance of the Company. Both Mr. Hurler and Mr. Wittig, along with other members of senior management, will remain with the Company post-acquisition. The transaction is subject to review by merger control authorities in Germany.
Foot Locker is a global retailer. Co. has a portfolio of brands including Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, atmos, WSS, Footaction, and Sidestep. Co. uses its capabilities to bridge the digital world and physical stores, including order-in-store, buy online and pickup-in-store, and buy online and ship-from-store, as well as e-commerce. Co. operates websites and mobile apps aligned with the brand names of its store banners in the various international countries that it operates. These sites provide online product selections and a link between e-commerce and physical stores. Co. also operates the websites for eastbay.com and eastbayteamsales.com.
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Hold (2.13 out of 4)