Dick's Sporting Goods is buying Foot Locker for $2.4 billion, the retailers confirmed yesterday. It's the biggest acquisition ever for Dick's—and the deal teams

Foot Locker owns Kids Foot Locker, Champs Sports, WSS, and atmos, and has 2,400 stores in 20 countries, including North America, Europe, and Asia.

According to the release, Dick’s will acquire its competitor for $2.4 billion, as the retailers navigate choppy demand and global trade uncertainties. Dick’s, which has one location in New Springville, said it expects to operate Foot Locker as a standalone business unit within its portfolio and maintain the Foot Locker brands.