Finish Line Retains Financial Advisor

by MR Magazine Staff

NEW YORK – Finish Line Inc. has secured the non-exclusive services of the Moelis Advisors division of Mercanti Securities LLC. The athletic footwear retailer is considering the acquisition of Genesco Inc., a Nashville-based footwear and hat retailer that operates stores under the names Journeys, Johnston & Murphy, Hatworld, Lids, and others.

The two retailers announced the $1.5 billion acquisition in June. The combined company would have revenue of $2.8 billion, according to figures released by the Finish Line. Genesco operates about 2,000 stores in the U.S. and Canada and Finish Line operates 694 eponymous stores in 47 states.

According to Reuters, Finish Line’s new financial advisor may have been sought to help the company reduce the agreed upon $1.5 billion price for Genesco, which reported a loss last quarter.