Finance Notes: Foot Locker Acquires German Chain Runners Point
U.S. retailer Foot Locker is buying Runners Point, the German athletic footwear and apparel chain, for €72M ($93.7M). The majority of shares in Runners Point are held by Hannover Finanz, a German private equity investor, while the remaining shares are owned by the chain’s senior management led by Otto Hurler and Harald Wittig, who will remain on the company’s board. Currently, Runners Point runs more than 200 stores across the German-speaking countries and the Netherlands, partly through franchises (ISPO). ... Sports Trade & Marketing Int'l, the pan-European buying group of sporting goods retailers, has a new member: Forum Sport. The Spanish chain is a subsidiary of Eroski, one of the country’s leading food retailers. STMI will increase its total volume of turnover at retail prices by €125M ($163M) to about €1.6B ($2.1B) (ISPO).