VF Corporation Enters into Definitive Agreement to Sell Its Licensed Sports Group Business to Fanatics, Inc.
April 04 2017 - 9:20AM
Business Wire
VF Corporation (NYSE: VFC), a global leader in branded lifestyle
apparel, footwear and accessories, today announced that it has
entered into a definitive agreement to sell its Licensed Sports
Group (LSG) business to Fanatics, Inc. VF’s LSG business includes
the Majestic® brand, which supplies apparel and fanware through
licensing agreements with U.S. and international professional
sports leagues and teams.
The transaction, which is expected to close in the second
quarter of this year, is subject to standard customary closing
conditions for a closing to occur. Terms of the agreement were not
disclosed.
About VF
VF Corporation (NYSE: VFC) outfits consumers around the world
with its diverse portfolio of iconic lifestyle brands, including
Vans®, The North Face®, Timberland®, Wrangler® and Lee®.
Founded in 1899, VF is one of the world’s largest apparel, footwear
and accessories companies with socially and environmentally
responsible operations spanning numerous geographies, product
categories and distribution channels. VF is committed to delivering
innovative products to consumers and creating long-term value for
its customers and shareholders. For more information,
visit www.vfc.com.
About Fanatics
Fanatics, Inc. is a global leader for officially licensed sports
merchandise. Fanatics comprises the broadest online assortment by
offering hundreds of thousands of officially licensed items via its
Fanatics, FansEdge and Kitbag brands, as well as the largest
selection of sports collectibles and memorabilia through Fanatics
Authentic. A multi-channel company, Fanatics operates more than 300
online and offline stores, including the e-commerce business for
professional sports leagues (MLB, MLS, NBA, NFL, NHL, NASCAR, PGA),
major media brands (NBC Sports, CBS Sports, FOX Sports) and more
than 200 collegiate and professional team properties across all
leagues, which include top teams and several global soccer clubs
(NY Giants, Seattle Seahawks, Chicago Bulls, Boston Celtics,
Pittsburgh Pirates, San Jose Sharks, Notre Dame, Alabama,
Manchester United, Real Madrid, Manchester City).
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version on businesswire.com: http://www.businesswire.com/news/home/20170404005847/en/
VF Media Contact:Vanessa McCutchen, 336-424-7776Director,
Public RelationsVanessa_mccutchen@vfc.comorFanatics Media
Contact:Meier Raivich, 646-787-2819VP,
Communicationsmraivich@fanatics.com
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