VF Corporation Completes Acquisition of Altra®
June 01 2018 - 5:00PM
Business Wire
VF Corporation (NYSE: VFC), a global leader in branded lifestyle
apparel, footwear and accessories, today announced that it has
completed its previously announced acquisition of the Altra® brand,
an athletic and performance-based lifestyle footwear brand, from
ICON Health & Fitness, Inc. As a result of the transaction, the
brand has become a wholly owned subsidiary of VF Corporation. Terms
of the agreement were not announced.
The Altra® brand provides VF with a unique and differentiated
technical footwear brand and a capability that when applied across
VF’s outdoor footwear, direct-to-consumer and international
platforms, will serve as a catalyst for growth within the outdoor
and performance segment. The addition of the brand to VF’s
portfolio is expected to be immediately accretive to earnings per
share.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180601005850/en/
VF CorporationJoe Alkire, 336-424-7711VP, Investor Relations and
Financial Planning & AnalysisJoe_alkire@vfc.comorCraig Hodges,
336-424-5636Senior Director, Corporate
CommunicationsCraig_hodges@vfc.com
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