Fleet Feet, a franchisor of locally owned and operated running stores, has agreed to acquire New England-based running retailer Marathon Sports and its soundRunner and Runner’s Alleybrands. The transaction, which includes Marathon Sports’ e-commerce business, is expected to close in July and coincide with the retirement of Marathon Sports owners Colin and Penny Peddie.
Per the deal, Marathon Sports will remain a wholly owned subsidiary and continue operating as a separate entity under the Marathon Sports, soundRUNNER and Runner’s Alley names, respectively. Marathon Sports’ leadership team will remain unchanged and continue operations out of its Waltham, Mass., headquarters. Each location will continue use of its store name in all branding, marketing and community outreach efforts. Financial details will not be disclosed.
“Since becoming owner of Marathon Sports in 1992, Colin has become an extremely influential industry leader and has built an incredible team and organization,” said Joey Pointer, CEO, and president of Fleet Feet. “When presented with an opportunity to become a part of this iconic running brand and retailer, we knew we wanted to be involved.
“This investment is a new step for Fleet Feet, with the goal of preserving the legacy and identity of the Marathon Sports brand in New England. We are confident in a seamless transition during the acquisition and look forward to working with, and growing alongside, the entire team of Marathon Sports brands. We remain grateful to Colin for entrusting us to continue his life’s work, and we wish him the best with his well-deserved retirement,” Pointer added.
Industry veteran Ben Cooke will succeed Peddie as president of Marathon Sports. A seasoned executive with more than 20 years of experience, Cooke has served as general manager of the former Princeton Running Company, the vice president of operations for Running Specialty Group and most recently held the title of vice president of business development and flagship retail for Fleet Feet.
Founded as a single store in Cambridge, Mass., in 1975, Marathon Sports has grown to include 11 total Marathon Sports locations across the state and a robust e-commerce presence.
