An anchor tenant at Columbia Center mall is buying one of its nearby neighbors. 

Dick’s Sporting Goods announced May 15 that it has entered a merger agreement to acquire footwear retailer Foot Locker for $2.4 billion.  

The boards of both companies have unanimously approved the deal, according to a release. The sale is expected to be completed in the second half of this year, pending Foot Locker shareholder and regulatory approvals. 

“Sports and sports culture continue to be incredibly powerful, and with this acquisition, we’ll create a new global platform that serves those ever evolving needs through iconic concepts consumers know and love, enhanced store designs and omnichannel experiences, as well as a product mix that appeals to our different customer bases,” said Lauren Hobart, president and CEO of Dick’s, in a statement. 

Dick’s, founded in 1948, has 850 stores under its flagship brand as well as Golf Galaxy, Public Lands and Going Going Gone! It also operates two showcase stores and GameChanger, a mobile sports platform targeted at youth. It opened its Columbia Center location in 2019 following a remodel that replaced the former Regal Theatres space. 

Dick’s has said it will operate Foot Locker as a standalone business, maintaining the sneaker seller’s brands.  

Foot Locker currently has 2,400 stores across 20 countries in North America, Europe, Asia, Australia and New Zealand. Its worldwide sales hit $8 billion last year.