Subject to the approval of the Antimonopoly Office, German sports retailer Runners Point will have a new owner in US enterprise Foot Locker, who will purchase the company 100%. A corresponding agreement was signed between Foot Locker, Inc. and the Runners Point associates Hannover Finanz, as well as managing directors Otto Hurler and Harald Wittig on May 8th 2013.

The management team: Otto Hurler and Harald Wittig
The management team: Otto Hurler and Harald Wittig

Hurler and Wittig will remain in their position as managing directors. The team said: “With Foot Locker we have found a global acting enterprise to support our further expansion plans and we are very happy about that.”

Runners Point has been an independent company since being bought-out from Karstadt AG by the Hannover Finanz Group in 2005. In the eight years of their partnership, Runners Point has grown to a number of 200 chain stores. This is partially due to the successful introduction of Sidestep, a more fashion sports and sneakers oriented retail concept. In 2011, Runners Point extended its portfolio by acquiring shares in the e-commerce firm Tredex Gmbh and since then has worked on the expansion of its online business. With the new ownership, Runners Point’s multi-channel strategy will be advanced further.

“We are happy to add Runners Point, a fast growing company with its different formats and sales channels to our existing activities in Europe,” said Ken C. Hicks, Chairman and CEO of Foot Locker, Inc. “This acquisition strengthens our position in Germany, the strongest economy in Europe, and gives us additional possibilities to diversify and extend our European business.” With the resources of Tredex, Hicks plans to push the e-commerce business of the complete Foot Locker group in Europe.

In 2012, Runners Point recorded an annual turnover of 197 million Euro. In the same year, The Foot Locker Group operated more than 3,300 stores in 23 countries and achieved a turnover of more than 6 billion US Dollars.