Fleet Feet Acquiring Marathon Sports
As Marathon Sports’ owners prepare to retire, Fleet Feet will uphold its traditions & deep ties to the running community
Fleet Feet, a franchisor of locally owned and operated running stores, has announced the acquisition of Marathon Sports and its brands, soundRUNNER and Runner’s Alley. The transaction, which includes Marathon Sports’ e-commerce business, is expected to close in July.
Financial details of the deal will not be disclosed.
The purchase of the New England-based running retailer marks the retirement of Marathon Sports owners Colin and Penny Peddie.
Marathon Sports will remain a wholly-owned subsidiary and will continue to operate as a separate entity under the names Marathon Sports, soundRUNNER, and Runner’s Alley, as per the deal. Marathon Sports’ leadership team will remain in place, and the company will continue to operate from its headquarters in Waltham, Massachusetts.
Each location will also continue to use its current store name in all branding, marketing, and community outreach efforts.
“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.
Fleet Feet, founded in 1976 by two California teachers during the running boom, has been described as a “42-year overnight success story,” by Pointer. He says that when the opportunity to lead the running retailer was presented, his company knew they wanted to be a part of it.
“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,” said Pointer.
Ben Cooke, who recently served as Vice President of Business Development and Flagship Retail for Fleet Feet, will assume the role of President of Marathon Sports.
“I’ve found exactly what you hope for when you sell a business you care deeply about,” shared Peddie regarding Cooke’s new role. The former Marathon Sports owners are pleased with Cooke and Fleet Feet, believing that both are deeply committed to the running retailer brand.
“Ben and I have a strong relationship, similar philosophies and have enjoyed many conversations over the past decade about the industry,” said Peddie. “I know both Ben and Fleet Feet will honor the tradition of Marathon Sports, continue to support the communities where our stores are located, and leverage the strong team and culture we have developed in our organization.”
Cooke expressed gratitude for the opportunity to build on the legacy of the running retailer, which has 18 locations.
“For over 40 years, Marathon Sports and the communities it serves have established deep running roots. I am so excited to tap into and honor that rich culture and legacy as we move Marathon Sports ahead for the next 40 years and beyond,” Cooke said.
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