Richard Maire, partner in Manatt’s corporate and finance practice, is representing Eurostar, Inc. (dba Warehouse Shoe Sales or WSS) in its $750 million acquisition by Foot Locker, the national sportwear and footwear retailer. Eurostar, also an athletic footwear and clothing company, has 93 stores throughout California, Texas, Arizona and Nevada, and focuses on the rapidly growing Hispanic consumer demographic. WSS will maintain its name and will operate as a new banner in Foot Locker’s portfolio.
In connection with the Eurostar deal, Foot Locker is also acquiring Text Trading Co. (dba Atmos), a Japanese streetwear and sneaker shop. These transactions, collectively valued at over $1 billion, are aimed to improve Foot Locker’s presence in the U.S. and Asia by reaching a broader customer base. Both deals are ongoing and expected to close in the third quarter of 2021.
The core Manatt deal team representing Eurostar also includes corporate and finance associates Lucille White and Emily Gelman. Additional team members include tax partners David Herbst, Jeffrey Mannisto and Bob Duran; intellectual property partner Michelle Cooke; labor and employment partner Andrew Satenberg; real estate senior counsel Dina Tecimer; and intellectual property associate Jessica Wood.
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This deal was covered by various publications, including: Mergers & Acquisitions, PE Hub, Law360, The Deal and Dallas Business Journal.