DICK'S to Acquire Foot Locker in $2.4B Deal
Slice of Retail Team
May 20, 2025
Key highlights
- DICK'S to acquire Foot Locker for $2.4B in equity value
- Combined entity will operate globally with ~2,400 stores
- Foot Locker to remain a standalone business unit
- Deal offers $100–$125M in projected cost synergies
- Expected to close in H2 2025, pending shareholder approval
Notable Quotes
“ We believe there is meaningful opportunity for growth ahead. By applying our operational expertise to this iconic business, we see a clear path to further unlocking growth. ”
Ed Stack, Executive Chairman at DICK'S Sporting Goods
“ With this acquisition, we'll create a new global platform that serves those ever-evolving needs through iconic concepts consumers know and love." ”
Lauren Hobart, President & CEO at DICK'S Sporting Goods
“ By joining forces with DICK'S, Foot Locker will be even better positioned to expand sneaker culture, elevate the omnichannel experience and enhance our position in the industry. ”
Mary Dillon, CEO at Foot Locker
Why This Matters
This acquisition marks a transformative moment in the global sports and footwear retail industry. By combining forces, DICK'S and Foot Locker are poised to redefine the market landscape. The deal enables DICK'S to expand internationally for the first time, broaden its customer base, and deepen brand partnerships. Maintaining Foot Locker as a standalone business ensures brand continuity while unlocking shared efficiencies. This strategic move is expected to deliver immediate financial benefits and long-term growth, solidifying the combined company’s role as a dominant player in global sports retail.
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