Dick's Sporting to buy privately held sporting goods retailer

Nov 26 (Reuters) - Sporting goods retailer Dick's Sporting Goods Inc (DKS.N) said it 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 likely to be completed on or before Dec. 31.

Chick's operates 15 specialty sporting goods stores in Southern California, Dick's Sporting said in a statement. (Reporting by Neha Pathania in Bangalore; Editing by Vinu Pilakkott)