Grace will sell its stake in a sporting goods firm.

W. R. Grace & Co. said it agreed to sell its 56% holding in Herman’s Sporting Goods to Dee Corp. PLC, a leading British food retailer, for $35.25 a share, or $227 million. Dee also offered the same price to buy the remaining publicly held shares in the sporting goods chain, giving the deal a total value of about $410 million, Grace said. Herman’s operates 131 stores in the Northeast, Midwest and Mid-Atlantic regions. The company was acquired by Grace in 1970 for $7.9 million. A year ago, Grace sold 44% of the chain’s stock to the public for $16.50 a share.