South Africa-based footwear company Footgear has agreed to acquire sports apparel retailers Edgars Active and High Key from Edcon Group, a South-Africa based retail company. The transaction will be backed by Old Mutual Private Equity, a division of Africa-focused asset manager Old Mutual Alternative Investments, which recently acquired a majority stake in Footgear through its fourth private equity buyout fund. Footgear plans to combine the two target companies and rebrand their 180 stores under the Footgear brand. Financial details of the transaction, which is subject to regulatory approval, were not disclosed.