Companies

Dick’s Sporting Goods to acquire Foot Locker for 2.4 billion USD

May 16, 2025 United States

Dick’s Sporting Goods has announced that it will acquire Foot Locker for 2.4 billion US dollars. This deal will give Dick’s a major international presence and greater market leverage with brands such as Nike and adidas

Under the terms of the agreement, Dick’s will acquire Foot Locker for 2.4 billion US dollars using a combination of cash on hand and new debt. Foot Locker shareholders will be able to choose between receiving 24 US dollars in cash or 0.1168 shares of Dick’s stock.

This deal will enable Dick’s Sporting Goods to expand its presence not only in the US but also internationally for the first time, catering to a broader range of consumers and gaining market leverage with brands such as Nike and adidas.

“We have long admired the cultural significance and brand equity that Foot Locker and its dedicated Stripers have built within the communities they serve. We believe there is a meaningful opportunity for growth ahead”, said Ed Stack, Executive Chairman of the sporting goods retailer, which reported preliminary first quarter comparable sales growth of 4.5%

He continued: By applying our operational expertise to this iconic business, we see a clear path to further unlocking growth and enhancing Foot Locker’s position in the industry. Together, we will leverage the complementary strengths of both organisations to better serve the broad and evolving needs of global sports retail consumers”, he concluded.

Known for its expertise in sneakers, Foot Locker operates a portfolio of brands that include Foot Locker, Kids Foot Locker, Champs Sports, WSS, and Atmos. It has over 2 400 retail stores across North America, Europe, Asia, Australia and New Zealand, as well as licensed stores in Europe, the Middle East and Asia. Going forward, Dick’s expects to operate Foot Locker as a standalone business unit within its portfolio and maintain the Foot Locker brands.

Mary Dillon, the CEO of Foot Locker, has overseen an ambitious turnaround at the footwear retailer. She welcomed the deal amid a landscape where tariffs and weak consumer demand have weighed on the company’s performance.

“By joining forces with DICK'S, Foot Locker will be even better positioned to expand sneaker culture, elevate the omnichannel experience for our customers and brand partners, and enhance our position in the industry. We are pleased to provide shareholders with a transaction structure that offers the choice of significant and immediate cash value or the opportunity to invest in the combined company and benefit from the substantial upside potential”, she said.

The deal is expected to close in the second half.

Image Credits: bridgestreethuntsville.com

United States Acquisitions Companies Dicks Sporting Goods Foot Locker, Inc. Footwear Retail Sportswear