Genesco Finalizes Sale of Lids Sports Group

Genesco has completed the sale of The Lids Sports Group to FanzzLids Holdings.

The deal is valued at $101 million and is subject to working capital and other estimates excluding a tax benefit estimation of $30 million.

Genesco announced plans to sell The Lids Sports Group in December. The Lids Sports Group is comprised of the LIDS retail headwear stores, the LIDS Locker Room specialty fan retail chain, the LIDS Clubhouse retail stores and the internet businesses Lids.com, LidsLockerRoom.com, LidsClubhouse.co and Lids.ca.

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