Footstar Inc. (Mahwah, N.J., discount shoe retailer) announced it would acquire the licensed footwear division of J. Baker Inc. for $57.8 million. Footstar already owns the Thom McAn brand, Footaction and Just For Feet stores and operates Kmart shoe departments. J. Baker, a footwear and apparel retailer operates discount shoe departments and owns the Casual Male Big & Tall and Repp Ltd. Big & Tall apparel chains.
The agreement, expected to close by February 3, 2001 should allow Footstar to develop into more upscale markets. J. Baker's footwear brands include Bass and Nine West.