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Foot Locker Buys Sneaker Chains in Deals for $1.11 Billion

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Foot Locker Inc. agreed to buy a pair of footwear companies in two deals with a combined value of $1.11 billion, expanding the chain’s presence in North America and Asia.

The athletic-goods retailer will pay $750 million for Eurostar Inc., the operator of WSS stores primarily on the U.S. West Coast, according to a statement Monday. Foot Locker also agreed to acquire Text Trading Co., the Japanese parent of the Atmos brand, for $360 million, the companies said in a separate news release. The deals will be funded with available cash.