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FGS Global represents DICK’s Sporting Goods as it acquires Foot Locker in a deal valued at $2.5B. Joele Frank, Wilkinson Brimmer Katcher handles Foot Locker
Foot Locker, which has 2,400 retail outlets in 20 countries, chalked up 2024 revenues of $8B. There are more than 850 DICK’s Sporting Goods, Golf Galaxy, Public Lands and Going Going Gone! Stores.
Ed Stack, executive chairman of DICK’s, said his company has “long admired the cultural significance and brand equity that Foot Locker and its dedicated Stripers [employees] have built within the communities that they serve.”
Foot Locker will operate as a standalone brand in DICK’s portfolio. The transaction creates a global platform for DICK’s, which will now have international stores for the first time.
The combined companies claim the acquisition will strengthen relationships with brand partners, helping them to better showcase their products, connect with athletes, and bolster visibility on a global level.
The merger will generate up to $125M in cost synergies through procurement and direct sourcing efficiencies.
DICK’s $24 per share offer is a 66 percent premium to Foot Locker's weighted average closing during the past 60 days. The Coraopolis (PA)-based company reported $13.4B in fiscal 2025 revenues and $1.1B in net income.
FGS Global's deal team includes partners Kal Golberg and Liz Zale; managing director Megan Kennedy; and directors Danielle Berg and Bridget Goodwin.
Joele Frank, Wilkinson Brimmer Katcher partners Leigh Parrish, Aura Reinhard and Matt Sherman; managing directors Rachel Goldman and Eliza Rothstein; and director Joy Barnett handle Foot Locker.
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