Footwear and accessories retailer Genesco Inc. has acquired Hat World Corp., operator of 481 stores and four web sites that sell hats and caps. Hat World’s brands--Hat World, Lids, Hat Zone and Cap Factory--operate the web sites HatWorld.com, Lids.com, Lidscyo.com and CapFactory.com.
Genesco paid $177.4 million for the company.
Genesco operates 1,040 retail stores under the brands Journeys, Journeys Kidz, Johnston & Murphy and Underground Station, and two web sites Journeys.com and JohnstonMurphy.com. Genesco also sells wholesale under the Johnston & Murphy and licensed Dockers brand.
Hal N. Pennington, Genesco's president and CEO, said he expects Genesco will grow Hat World by 400 to 500 stores.
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