Dick’s buys Foot Locker for $2.4 billion, plans to keep sneaker chain unchanged

The deal will keep Foot Locker stores operating under their original names and brands.

PITTSBURGH — Dick’s Sporting Goods has completed its acquisition of Foot Locker, creating a sports retail powerhouse with more than 3,200 stores across 20 countries, the companies announced Monday.

The deal, first announced in May, positions the Pittsburgh-based retailer as what it calls a “global leader in the sports retail industry,” combining Dick’s traditional sporting goods focus with Foot Locker’s strength in sneaker culture and urban athletic wear.

The combined company will continue to operate its separate brands including Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos, alongside

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