Acquisition: Dick’s Sporting Goods to buy Foot Locker
16/05/2025
Both companies confirmed that their boards of directors had unanimously approved the acquisition.
The executive chairman of Dick’s, Ed Stack, said: “We believe there is a meaningful opportunity for growth. By applying our operational expertise to this iconic business, we see a clear path to unlocking growth and enhancing Foot Locker’s position in the industry.”
For her part, Dick’s chief executive, Lauren Hobart (pictured), commented: “Sports and sports culture continue to be incredibly powerful, and with this acquisition, we will create a new global platform that serves those needs through concepts consumers know and love, enhanced store designs and omnichannel experiences, as well as a product mix that appeals to our different customer bases.”
Her counterpart at Footlocker, Mary Dillon, said: “Today’s announcement marks the start of an exciting new chapter for Foot Locker.” She said that joining forces with Dick’s would put Foot Locker in a position “to expand sneaker culture, elevate the omnichannel experience for our customers and brand partners, and enhance our position in the industry.”
Share this story:
