By CBS Baltimore Staff

BALTIMORE (WJZ) — A sports retailer based in the United Kingdom has announced its plans to acquire Baltimore-based streetwear company DTLR Villa for around $495 million.

In a news release, JD Sports Fashion said it anticipates the deal closing in the first quarter of 2021. DTLR’s current co-CEOs Glenn Gaynor and Scott Collins are expected to stay with the company.

The U.K. company said the acquisition will help it enhance its U.S. presence.

DTLR, which was founded as Downtown Locker Room in 1982, has nearly 250 U.S. stores across 19 states, the release said.

CBS Baltimore Staff