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VF Corp completes acquisition of Williamson-Dickie
07
Oct '17
VF Corp completes acquisition of Williamson-Dickie
VF Corporation, a global leader in branded lifestyle apparel, footwear and accessories, has announced that it has completed acquisition of Williamson-Dickie Mfg. Co., a private workwear company, for $820 million in cash, adjusted for closing and working capital changes. As a result, Williamson-Dickie has become a wholly owned subsidiary of VF Corporation.

The acquisition combines Williamson-Dickie’s brands, including Dickies, Workrite, Kodiak, Terra, and Walls with VF’s current workwear offerings, including Wrangler RIGGS Workwear, Timberland PRO, Red Kap, Bulwark, and Horace Small to create a global leader in workwear with approximately $1.7 billion in annual revenue that will serve a broader set of consumers and industries around the world.

For 2017, Williamson-Dickie is expected to contribute approximately $200 million of revenue and approximately $0.02 to VF’s earnings per share, excluding transaction and other deal-related expenses. By 2021, Williamson-Dickie is expected to contribute more than $1 billion of revenue, which will accelerate VF’s revenue to over $15 billion and earnings per share to more than $5.00.

"This acquisition has combined two great companies and a group of iconic brands to create a global leader in workwear with approximately $1.7 billion in annual revenue. This is another meaningful step that delivers on the commitment and further demonstrates our focus on being an active portfolio manager to drive transformative growth for VF and value creation for our shareholders," said Steve Rendle, president and chief executive officer of VF. (RR)

Fibre2Fashion News Desk – India


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