Home / Knowledge / News / Apparel/Garments / VF Corporation to buy Timberland for $43 per share
VF Corporation to buy Timberland for $43 per share
Jun '11
VF Corporation, a leader in branded lifestyle apparel, and The Timberland Company jointly announced that they have signed a definitive merger agreement. VF will pay Timberland shareholders $43 per share, representing a total enterprise value of approximately $2 billion net of cash acquired. The merger agreement was unanimously approved by both companies' Boards of Directors.

Timberland is a global footwear and apparel company with expected 2011 revenues of $1.6 billion, over half of which are generated internationally.

"The Timberland brand is synonymous with high quality outdoor footwear and apparel," said Eric Wiseman, Chairman and Chief Executive Officer of VF Corporation. "We believe the unique rugged outdoor positioning of the Timberland brand will perfectly complement the premium, technical positioning of The North Face brand, while the Smartwool brand will provide us with a leadership position in a new category. This acquisition will continue the transformation of VF's portfolio, propelling VF's Outdoor & Action Sports businesses to 50% of total revenues." He continued, "This will be a winning combination, leveraging VF's international and direct-to-consumer platforms to drive growth in the Timberland and Smartwool brands globally. At the same time, VF will benefit from Timberland's rugged outdoor footwear expertise, international penetration in markets such as Japan, and leadership position in sustainability."

"Timberland is proud of its rich heritage, its track record of success and its reputation as a responsible and environmentally-conscious global citizen, all of which will be preserved and enhanced by becoming part of the VF family of brands," said Jeffrey Swartz, President and Chief Executive Officer of Timberland. "VF is known for its ability to acquire and grow authentic outdoor brands, while protecting a brand's unique culture and DNA."

VF is confident in its ability to maintain Timberland's momentum by adding Timberland's strong brands to its powerful portfolio of outdoor and action sports brands, which include The North Face, Vans, JanSport, Reef, lucy, Eastpak, Napapijri and Eagle Creek.

VF is targeting 10% annual revenue growth for Timberland through:

• Leveraging VF's established international platforms in Europe, Asia and Latin America
• Leveraging VF's direct-to-consumer platform, consisting of a global base of retail stores and rapidly growing e-commerce business
• Enhancing the Timberland and Smartwool brands' apparel offerings
• Aggressively growing the women's footwear and apparel business

In addition, VF believes it can substantially increase Timberland's profitability through:

• Expense management to improve SG&A ratios;
• Supply chain capabilities to reduce sourcing costs;
• Operating disciplines of VF's highly profitable international and direct-to-consumer businesses.

"We look forward to working with Jeff and Timberland's strong team of leaders as we build our plans for the future together," concluded Mr. Wiseman.

Must ReadView All

Textiles | On 24th Oct 2016

Baba Ramdev’s Patanjali to enter textile manufacturing

Patanjali Ayurved, an enterprise initiated by yoga guru Baba Ramdev,...

Textiles | On 24th Oct 2016

German technology to help in energy saving in textiles

German technology can play a major role making the environment...

Courtesy: Trupik

Apparel/Garments | On 24th Oct 2016

Virtual 3D fitting rooms revolutionising online shopping

Virtual fitting rooms meant to bridge the gap between e-commerce...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Evelyne Cholet

‘France had a reputation of being big in new ideas, but poor in marketing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search