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Foot Locker, Inc.
Foot Locker, Inc. Signs Definitive Agreement to Purchase CCS from dELiA*s
October 19th, 2008
Foot Locker, Inc. (NYSE:FL), the New York-based specialty athletic retailer, announced that it has signed a definitive agreement with dELiA*s, Inc. to purchase its direct-to-consumers business, CCS, for $102 million in cash. The transaction, which is expected to close within the next 60 days, is subject to certain closing adjustments and review under the Hart-Scott-Rodino Antitrust Improvements Act. CCS is the leading direct-to-consumers retailer in the United States that sells skateboard footwear, apparel and accessories through catalogs and the Internet with revenues expected to exceed $80 million in 2009. The target customer of CCS is a teenaged boy who actively...
Source: Pharma Investments, Ventures & Law Weekly (2008-10-19)
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