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VF Corporation completes acquisition of Altra
02 Jun 18 1 min read
VF Corporation, a global leader in branded lifestyle apparel, footwear and accessories, 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,” VF Corp said in a statement.
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The addition of the brand to VF’s portfolio is expected to be immediately accretive to earnings per share. (RKS)
Fibre2Fashion News Desk – India
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