The transaction, which includes Marathon’s Sports’ e-commerce business, is expected to close next July, overlapping with the retirement of the current Marathon Sports owners Colin and Penny Peddie. Financial details will not be disclosed.

"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", stated Joey Pointer, CEO, and President of Fleet Feet.

The New-England-based retailer will remain a wholly owned subsidiary and continue operating as a separate entity, under the Marathon Sports, soundRUNNER and Runner's Alley banners, respectively. In addition, each location will continue using its current store name in all branding, marketing and community outreach efforts. The leadership team will too remain unchanged, and continue running operations from its current headquarters in Waltham.