Investment firm Kohlberg Kravis Roberts & Co. is planning to buy a majority stake in sporting goods chain Academy Sports + Outdoors.

The companies announced the agreement on Tuesday, though financial terms were not disclosed. Katy, Texas-based Academy Sports–owned by the Gochman family for more than 70 years–has 131 stores in the Southeast U.S., and recorded more than $2.7 billion in revenue in 2010.