Dick’s Sporting Goods Acquires The Foot Locker
The acquisition of The Foot Locker by Dick’s Sporting Goods was announced via press release less than 24 hours ago. According to PYMNTS, the transaction implies an equity and enterprise value of USD 2.4 billion and USD 2.5 billion, respectively. The Foot Locker will operate as a stand-alone business unit, and the transaction is expected to close in the second half of 2025, pending approval by Foot Locker shareholders.
The acquisition will support Dick’s international expansion to over 20 markets where the Foot Locker operates retail stores, not including licensed stores in multiple other countries.
According to the press release, the goal of this transaction is to “create a global platform within the growing sports retail industry; serve a broader set of consumers across differentiated concepts; strengthen relationships with brand partners through a global reach; invest in future growth through an industry-leading omnichannel experience; and unlock operational efficiencies that create shareholder value.”
Dick’s expects this acquisition to deliver between USD 100 to USD 125 million in cost savings in the medium-term by streamlining their procurement and sourcing strategies. Furthermore, both Dick’s House of Sport and Foot Locker’s Reimagined Concept Stores are expected to become the foundation of the new company’s immersive and innovative retail experience for consumers.
According to Foot Locker’s CEO, Mary Dillon, “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.”
