Dick’s to Buy Chick’s Sporting Goods

Pittsburgh, Sporting-goods retailer Dick’s Sporting Goods announced late Monday that it had agreed to acquire privately held Chick’s Sporting Goods for about $40 million in cash and assumption of about $31 million debt.

The deal, to be financed using Dick’s Sporting’s existing credit facility, is expected to add marginally to the company’s earnings in fiscal 2008 and is projected to be completed on or before Dec. 31.

Chick’s operates 15 specialty sporting-goods stores in Southern California.