It is the age of acquisition. Big companies acquiring even bigger companies.
DICK’S Sporting Goods is stepping into the global sneaker game with its acquisition of Foot Locker, a move that combines two powerhouse brands under one roof.
The $2.4 billion deal marks a major expansion for DICK’S, bringing Foot Locker’s 2,400 stores across 20 countries into its portfolio while keeping the Foot Locker brand intact.
Foot Locker, known for fueling sneaker culture through its brands—Kids Foot Locker, Champs Sports, WSS, and atmos—generated $8 billion in sales in 2024. DICK’S plans to operate Foot Locker as a standalone business unit, tapping into its deep community ties and retail expertise.
The merger positions the combined company to serve an even wider customer base—from athletes to sneaker enthusiasts—through innovative retail formats like DICK’S House of Sport and Foot Locker’s Reimagined Concept stores. It also expands DICK’S reach internationally for the first time, unlocking a global platform in the growing sports retail market.
“This acquisition creates a unique opportunity to build something bigger than either brand could do alone,” said Lauren Hobart, President and CEO of DICK’S. “Together, we’re poised to deliver unmatched omnichannel experiences and a diverse product mix that reflects the future of sports and sneaker culture.”
The transaction, which is expected to close in the second half of 2025, is projected to generate up to $125 million in cost synergies and be accretive to earnings in its first full fiscal year.
