The merger is expected to enhance Dick’s global consumer reach and increase its market potential by combining Foot Locker’s strong brand presence with Dick’s extensive retail network.
Dick’s Sporting Goods has agreed to purchase rival Foot Locker in a $2.4bn deal, which will help serve consumers internationally for the first time. The deal has an enterprise value of almost $2.5bn.
Dick’s plans to integrate Foot Locker into its portfolio but operate it as an independent business unit and preserve the brand’s identity. Foot Locker, which includes Kids Foot Locker, Champs Sports, WSS, and atmos, reported global net sales of $8 billion in 2024.
“We look forward to welcoming Foot Locker’s talented team and building upon their expertise and passion for their business, which we intend to honour and amplify together,” said Dick’s Sporting Goods President and CEO Lauren Hobart.
“Sports and sports culture continue to be incredibly powerful, and with this acquisition, we’ll create a new global platform that serves those ever-evolving needs through iconic concepts consumers know and love, enhanced store designs and omnichannel experiences, as well as a product mix that appeals to our different customer bases.”
The merger is expected to enhance Dick’s global consumer reach and increase its market potential. Leveraging insights from both Dick’s House of Sport and Foot Locker’s Reimagined Concept stores, the new entity aims to offer consumers immersive retail experiences.
It also seeks to foster growth through unique store formats and strong digital platforms aimed at sustained profitable expansion.
“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,” said Foot Locker CEO Mary Dillon,
“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.”
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