Dick’s Sporting Goods To Acquire Foot Locker

This marks the second recent buyout of a major footwear company.

Dick’s Sporting Goods is set to acquire Foot Locker.

The sports retailer will make the purchase for $2.4 billion.

The company expects to run Foot Locker as a standalone unit and keep the original brands. That includes Kids Foot Locker, Champs Sports, WSS and Japanese sneaker brand Atmos.

This marks the second recent buyout of a major footwear company.

Sketchers is being taken private by the investment firm 3G Capital in a transaction worth more than $9 billion.