NEW YORK — Finish Line is getting deeper into the hip-hop arena.

The fast-growing athletic retailer has signed an agreement to acquire Hang Up Shoppes Inc., which operates the Man Alive chain selling men’s and women’s products, for $12 million in cash plus the potential of an additional $6 million if certain conditions are met.

“It is clear to us that Man Alive has a proven store model and we are convinced that there should be a tremendous fit with our organization from a strategic, cultural and operational viewpoint,” said Alan H. Cohen, Finish Line’s chairman and chief executive officer.

Hang Up has headquarters in Indianapolis and operates 38 mall-based stores in states including Maryland, Indiana, Kentucky, Michigan and Missouri. Founded in 1969, the chain has sales of about $30 million and has been a family-run business. Jeff Bublick, the president and son of the founder, is expected to continue in his role, and other family members also plan to stay with the business. The transaction is to close at the end of this month.

Finish Line, which had sales of $805.4 million in the nine months ended Nov. 27, has been on a growth path recently, rapidly opening stores. This month, the chain began selling an exclusive collection, called Maddie, that is produced jointly with Nike.

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