American Sporting to Acquire Shoe Brands
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American Sporting Goods Corp. is buying the footwear division of Global Sports Inc. for about $11 million, the companies said Thursday.
Irvine-based American Sporting Goods, which makes footwear under the Avia, Nevados and Turntec brands, will buy the division of Global that consists of the Apex, Yukon and Ryka brands.
Pennsylvania-based Global said it is selling the unit to focus exclusively on its e-commerce operations. Global Sports is an Internet company that develops and operates the online businesses of sporting goods retailers, including Sport Chalet and Sports Authority.
As part of the purchase, American Sporting Goods will assume some liabilities of the division. Global is retaining the division’s accounts receivable of about $8.5 million.
The transaction is expected to close by the end of the month.
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