Fleet Feet (Carrboro, NC), the largest franchisor of running stores in the U.S., has agreed to acquire running retailer Marathon Sports (Waltham, MA).
The deal calls for Marathon Sports, which also owns two brands called soundRunner and Runner’s Alley, to remain a wholly owned subsidiary and continue operating as a separate entity. Under the three banners, the retailer has a total of 11 locations in Massachusetts, Connecticut and New Hampshire.
The acquisition is expected to close in July, coinciding with the retirement of current Marathon Sports owners Colin and Penny Peddie. The company’s leadership team will remain unchanged and continue working out of its headquarters, Fleet Feet said in a release.
Industry veteran Ben Cooke will succeed Colin Peddie as President of Marathon Sports. He most recently served as VP of Business Development and Flagship Retail for Fleet Feet.
Financial terms of the transaction were not disclosed.