VF Corporation Completes Acquisition of Altra®
GREENSBORO, N.C.--(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.
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.
Joe Alkire, 336-424-7711
VP, Investor Relations and Financial Planning & Analysis
Craig Hodges, 336-424-5636
Senior Director, Corporate Communications
Source: VF Corporation