The deal is due to go unconditional in mid-December.
The Warehouse chief executive Mark Powell confirmed the acquisition when contacted yesterday, saying there were no immediate changes to staff numbers and that moving ''a couple'' of the nine store sites next year might be considered.
On the question of naming and branding, Mr Powell said nothing would immediately change, but there would be a ''period of discovery'' in the new year and decisions such as those would be considered.
The sports goods company was founded in South Dunedin as Recycled Recreation in the early 1980s.
The original South Dunedin shop, operated by Grant Vossler, was taken over by Darryl Tatom, Paul Highton and Dave Norris and later renamed R&R Sport. Mr Highton continued with the company, along with present partners Mat Woods and Miff Macdairmid.
The company's nine stores are the headquarters outlet in Dunedin's lower Stuart St, Queenstown, Wanaka, Christchurch (two), Kaikoura, Nelson, Hamilton and Auckland.
R&R Sport sells a large range of adventure sporting goods, clothing and accessories.
Mr Powell said R&R Sport would team up with one of the country's fastest-growing online retailers, Torpedo 7 Group, which became 51% owned by The Warehouse Group earlier this year, and would operate as a dual online and sports store company.
The Warehouse intended to increase its stake in Torpedo 7 to 100% over three to five years, he said.
It is understood the R&R purchase cost ''several million'' dollars, but Mr Powell declined to confirm a price.
