
VF Corp, the 7 Billiion plus apparel powerhouse, just announced they’re going to acquire The Timberland Company for $43 Per Share or roughly 2 Billion dollars. For those of you not familiar with VFC, they own over 30 brands, many of which you know, including: VANS, The North Face, John Varvatos, 7 For All Mankind, Majestic and Jansport. The deal is supposed to be final in the 3rd quarter. Will it help the brand, the consumer? Only time will tell but I’m sure there will be a re-org and some layoffs to come at Timberland.
Some points on the acquisition below or click for full PRESS RELEASE from VFC
- Transformative Acquisition Will Create $10B Global Apparel & Footwear Powerhouse
- Addition of Timberland(R) and Smartwool(R) Brands Will Boost VF’s Outdoor & Action Sports Business to 50% of Total Revenues
- Will Provide Significant EPS Accretion in 2011 and 2012
Links to story:
CNN
BUSINESS WEEK