American athletic footwear and sporting goods retailer Dick's Sporting Goods, Inc. has entered into a definitive stock purchase agreement to acquire Chick's Sporting Goods. Under the terms of the deal, Dick's will pay approximately $40 million in cash for the outstanding equity of Chick's and assume approximately $31 million of debt. The transaction is expected to be completed by the end of the year.

Chick's currently operates 15 specialty sporting goods stores in Southern California and generated over $120 million in sales during the last fiscal year.

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