VF Corp. Announces Public Filing of Form 10 Registration Statement for Planned Separation of Kontoor Brands, Inc. & Availabil...
April 01 2019 - 6:55AM
Business Wire
VF Corporation (NYSE: VFC), a global leader in branded lifestyle
apparel, footwear and accessories, today announced the public
filing of a Form 10 Registration Statement with the U.S. Securities
and Exchange Commission in connection with the previously announced
separation of VF’s Jeanswear organization into an independent,
publicly traded company. The new company, named Kontoor Brands,
Inc., will include the Wrangler®, Lee® and Rock & Republic®
brands, and the VF Outlet business.
The filing provides detailed information on Kontoor Brands’
business, strategy and historical financial results.
“Our teams across VF have made tremendous progress to prepare
for the successful separation of Kontoor Brands from VF and this
filing is a significant next step in this process,” said Steve
Rendle, Chairman, President and CEO of VF Corporation. “We are
highly confident that the separation is the best path forward for
both organizations to achieve even greater potential and enhance
long-term shareholder value.”
The separation is on track to be completed in May of 2019,
subject to final approval by VF’s Board of Directors, customary
regulatory approvals, and tax and legal considerations.
“Today’s filing marks an important milestone in the process of
establishing Kontoor Brands as an independent company,” said Scott
Baxter, named CEO of Kontoor Brands. “As we prepare for life as a
separate, publicly traded organization, I am confident that Kontoor
Brands is strongly positioned to thrive as a leader in the global
apparel industry and deliver long-term value for all of our
stakeholders.”
The Form 10 filing is available at www.sec.gov under “Kontoor
Brands, Inc.” An updated presentation on the planned separation is
available at ir.vfc.com. For more information regarding the
proposed separation, please visit TwoGlobalLeaders.com.
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 many
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.
Forward-Looking
Statements
Certain statements included in this release are “forward-looking
statements” within the meaning of the federal securities laws.
Forward-looking statements are made based on our expectations and
beliefs concerning future events impacting VF and therefore involve
several risks and uncertainties. You can identify these statements
by the fact that they use words such as “will,” “anticipate,”
“estimate,” “expect,” “should,” “may,” “believe,” “intend,” and
“plan,” and other words and terms of similar meaning or use of
future dates. We caution that forward-looking statements are not
guarantees and that actual results could differ materially from
those expressed or implied in the forward-looking statements. Our
forward-looking statements in this release speak only as of the
date of this release. Factors or events that could cause our actual
results to differ may emerge from time to time, and it is not
possible for us to predict all of them. Unless required by law, we
undertake no obligation to update publicly any forward-looking
statements as a result of new information, future events or
otherwise. Additional information about the company is contained in
the company’s filings with the SEC and is available on VF’s
website, www.vfc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190401005199/en/
Investors:Joe Alkire, 336-424-7711Vice President,
Corporate Development, Investor Relations and Financial Planning
& AnalysisJoe_Alkire@vfc.comOrMedia:Craig Hodges,
336-424-5636Vice President, Corporate
AffairsCraig_Hodges@vfc.com
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