By  on November 28, 2007

ATLANTA—Dick’s Sporting Goods will soon have a strong footprint in the Southern California market. The Pittsburgh, Pa.-based retailer has entered into a definitive stock purchase agreement to acquire Chick’s Sporting Goods, which is based in Covina, Calif. Under terms of the agreement, Dick’s will pay approximately $40 in cash for the outstanding equity of Chick’s. Including the assumption of about $31 million of debt, the deal values Chick’s at approximately $71 million. Dick’s expects to complete the transaction on or before Dec. 31, 2007. 

“Chick’s Sporting Goods is well-positioned in several important Southern California markets,” said Edward W. Stack, chairman and CEO of Dick’s. “This acquisition provides [Dick’s] with an immediate presence and market share in Southern California.” 

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus