Dick’s Sporting Goods Acquires Foot Locker for $2.4B to Create Global Sports Retail Powerhouse
Dick’s Sporting Goods has agreed to acquire Foot Locker in a $2.4 billion transaction, uniting two major players in sports retail. Foot Locker shareholders can elect to receive $24.00 in cash or 0.1168 shares of Dick’s common stock per Foot Locker share, a 66% premium over Foot Locker’s 60-day volume-weighted average price.
The acquisition will form a global sports retail platform, combining Foot Locker’s 2,400 stores across 20 countries with Dick’s existing network. DICK’S plans to operate Foot Locker as a standalone business unit, preserving its distinct brands while leveraging Dick’s operational expertise, omnichannel capabilities, and global brand partnerships to drive growth.
The deal is expected to be accretive to Dick’s earnings per share in the first full fiscal year following the close and generate $100 million to $125 million in cost synergies. Subject to regulatory and Foot Locker shareholder approvals, the transaction is slated to close in the second half of 2025.
Executives from both companies highlighted the complementary strengths, with Foot Locker gaining access to Dick’s resources to bolster its market presence.
