A shoe in, DICK’S Sporting Goods (NYSE: DKS) completes Foot Locker acquisition

DICK’S Sporting Goods Inc. (DKS) has completed its acquisition of Foot Locker Inc.; the company announced from Pittsburgh. The transaction creates a combined entity operating more than 3,200 stores across 20 countries in North America, Europe, Asia, and Australia.

The acquisition includes Foot Locker’s portfolio of brands: Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos. DICK’S Executive Chairman Ed Stack will lead the global Foot Locker businesses, working with two new presidents for North America and International operations.

Ann Freeman, a former Nike executive, has been appointed President of Foot Locker North America. The North America division will be supported by a management team including Tony Aversa as SVP and GM of Foot Locker and Kids Foot Locker North America, and Denise Karkos as SVP and General Manager of Champs Sports.

DICKS expects the transaction to deliver between $100 million to $125 million in cost synergies in the medium term, primarily through procurement and direct sourcing efficiencies. The company anticipates the acquisition will be accretive to earnings per share in fiscal year 2026, excluding transaction and one-time costs.

“We are very enthusiastic about the future of Foot Locker,” Stack said in a statement. “The world class team we have assembled is committed to returning Foot Locker to its rightful place in our industry.”

Goldman Sachs served as financial advisor to DICKS for the transaction, with Wachtell, Lipton, Rosen & Katz acting as legal advisor. The information is based on a company press release statement.