Brand acquisition and management company NexCen Brands, Inc. has completed its acquisition of athletic footwear and apparel retail company The Athlete's Foot (TAF), with 600 locations in 40 countries. The acquisition includes The Athlete's Foot brand name along with the franchisee license agreements in the global retail franchise system.

Under the terms of the transaction, NexCen acquired the outstanding equity of The Athlete's Foot for $51.5 million.

For the nine months ended September 30, TAF generated revenues of approximately $6.8 million, an increase of 3.7% compared with the same period in the prior year. For the full year, revenues are expected to range from $9.6 million to $9.8 million, an increase of 4% to 6% over the prior year.