Hype DC has been acquired for an eye-watering sum.
RCG Corporation, the firm behind The Athlete's Foot, has acquired the footwear retailer for $105 million.
The deal will give it control over 60 stores across Australia, with 57 trading under Hype DC and three under Shubar.
RCG CEO Hilton Brett said the business is strategically aligned to its own objectives.
"Bringing Hype into the RCG family will unlock enormous benefits and opportunities for all the stakeholders of both businesses including staff, suppliers, customers and RCG shareholders
"We look very forward to working with them as we continue to break new ground in the distribution and retail of branded footwear in the Australian and New Zealand markets."
Hype DC founders Danny and Cindy Gilbert will continue to manage the business and no immediate operational changes will take place in the short term.
The acquisition comes just 15 months after RCG acquired footwear retailer Accent Group for $200 million.
The latest purchase will bring its store network to over 350 sites, nine retail brands and exclusive distribution rights for 12 labels including Dr Martens, Vans and Skechers.
RCG reaffirmed its 2015/16 underlying earnings before interest, tax, depreciation and amortisations is likely to be $60 million — the top-end of its guidance range.
Hype DC's normalised earnings before interest, tax, depreciation and amortisation are around $17.5 million.