VF Corporation Completes the Sale of the Occupational Portion of Its Work Segment
June 28 2021 - 4:30PM
Business Wire
VF Corporation (NYSE: VFC), a global leader in branded lifestyle
apparel, footwear and accessories, today announced that it has
completed the sale of the occupational portion of its Work segment
to a subsidiary of Redwood Capital Investments, LLC, a diversified
holding company.
The occupational workwear portion of VF’s Work segment includes
the following brands: Red Kap®, VF Solutions®, Bulwark®, Workrite®,
Walls®, Terra®, Kodiak®, Work Authority® and Horace Small®.
The sale does not include the Dickies® and Timberland PRO®
brands.
The announcement follows the April 28, 2021, news release in
which VF announced that it had entered into a definitive agreement
regarding the sale of this business. Terms of the agreement were
not disclosed.
About VF
Founded in 1899, VF Corporation is one of the world’s largest
apparel, footwear and accessories companies connecting people to
the lifestyles, activities and experiences they cherish most
through a family of iconic outdoor, active and workwear brands
including Vans®, The North Face®, Timberland® and Dickies®. Our
purpose is to power movements of sustainable and active lifestyles
for the betterment of people and our planet. We connect this
purpose with a relentless drive to succeed to create value for all
stakeholders and use our company as a force for good. For more
information, please visit vfc.com.
About Redwood Capital Investments, LLC
Redwood is a long-term holding company headquartered in
Baltimore, MD that acquires and builds businesses across a diverse
set of industries. Redwood’s existing businesses operate in the
distribution, dealership, equipment leasing and real estate
industries. Redwood focuses on creating value through reinvesting
in their businesses to drive growth and create opportunities for
employee advancement while preserving company culture.
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version on businesswire.com: https://www.businesswire.com/news/home/20210628005714/en/
VF Corporation Contacts: Joe
Alkire Vice President, Corporate Development, Investor Relations
and Treasury (720) 778-4051
Craig Hodges Vice President, Corporate Affairs (720)
778-4116
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