(WHTM) – Pennsylvania-based DICK’s Sporting Goods has finalized its acquisition of the footwear and apparel retailer Foot Locker.

DICK’s will now operate more than 3,200 stores across 20 countries while continuing to operate the Foot Locker brand. The $2.4 billion deal was first announced in May.

According to DICK’s, the deal “is expected to deliver between $100 million to $125 million in cost synergies in the medium term.”

“We are very enthusiastic about the future of Foot Locker,” said Ed Stack, Executive Chairman of DICK’S. “The world class team we have assembled is committed to returning Foot Locker to its rightful place in our industry. We are committed to investing in and growing Foot Locker through its strong culture, led by the Stripers, and creating a more powerful experience for consumers.”

“I am thrilled to join and lead Foot Locker North America at such a transformative moment,” said Ann Freeman, President of Foot Locker North America. “Together, we have an extraordinary opportunity to build on Foot Locker’s rich heritage and deliver innovative experiences to a variety of footwear consumers – from athletes to sneaker enthusiasts and everyone in between. I look forward to working with the talented Foot Locker team as we accelerate growth, enrich our brand partnerships and inspire the next generation of consumers.”

Founded in 1948, DICK’s is headquartered in Pittsburgh and also operates the Golf Galaxy brand.