Genesco Inc., Nashville, Tenn., announced that the company has completed the sale of its Lids Sports Group to FanzzLids Holdings, operated by affiliates of Ames Watson LLC, for $101 million.
Fanatics Inc. will make a minority investment in FanzzLids Holdings in connection with entering into a commercial arrangement with that holding company and is expected to help manage online operations and offer support with its vertical-manufacturing capabilities, according to the company.
The acquisition means adding about 1,100 locations, in addition to the 120 Fanzz stores Ames Watson Capital acquired last February. — D.S.
