Dick's Sporting Goods Completes International Footwear Chain Acquistion

PITTSBURGH, PA — Dick's Sporting Goods has completed its acquisition of Foot Locker, the Pittsburgh-based retailer announced on Monday.

As a combined company, Dick's will now operate more than 3,200 stores plus e-commerce and digital businesses across 20 countries in North America, Europe, Asia, and Australia, plus a licensed store presence in Europe, the Middle East and Asia. This company says this expanded footprint will strengthen its relationships with key brand partners by offering broader reach and enhanced visibility on a global level.

"We are excited to officially welcome the Foot Locker team," Dick's CEO Lauren Hobart said in a statement.

"Bringing together the strengths of both companies will help us return Foot Locker to growthwhile continuing to fuel Dick's momentum. As a combined company, Dick's and Foot Locker will create a global platform that will redefine the sports retail industry and unlock value for both companies, our brand partners, our teammates, our communities and our shareholders."

Dick's will operate Foot Locker's portfolio of brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos.

Ann Freeman, a longtime former Nike executive, has been appointed President of Foot Locker North America. Dick's will appoint a president of Foot Locker International to lead other regions.