Hat World closes on Hat Shack deal

Hat World, the Indianapolis subsidiary of Nashville, Tenn.-based Genesco Inc., has closed its acquisition of Hat Shack Inc. for $16.6 million. Marietta, Ga.-based Hat Shack operates 49 retail hat stores, mostly in the Southeast.

Genesco bought Hat World Corp. in 2004 for $177.4 million. Hat World was one of Indianapolis’ top entrepreneurship success stories, having grown to 481 hat stores prior to the acquisition.