News Flash

VF Outdoor in negotiations to acquire Eagle Creek brand

22 Dec '06

2 min read

VF Outdoor Inc, a subsidiary of VF Corporation, announced that it is in negotiation to acquire Eagle Creek Inc, the nation's leading supplier of adventure travel gear, including accessories, luggage, daypacks and other products.

Founded in 1975, Eagle Creek currently has annual sales of approximately $30 million.

Eagle Creek brand products are sold in the U.S. through 700 outdoor specialty and 300 luggage specialty accounts. The brand is also sold in Europe and in other international markets through distributors and licensees.

Terms were not disclosed, and closing of the transaction is subject to customary government approvals and other conditions. Closing is expected to occur within 30 days.

"We're excited at the prospect of adding the industry's authentic outdoor travel brand to our existing portfolio of outstanding brands," said Dave Gatto, President of VF Outdoor Inc.

"Growth in the travel category is outpacing growth of the total outdoor business, and we expect this to continue given the desirability of travel among both baby boomers and Gen Y consumers."

He added, "Eagle Creek's strong product pipeline, combined with VF Outdoor's proven ability to execute international brand growth strategies, should enable the Eagle Creek brand to sustain high-single digit sales growth over the next several years."

Eagle Creek will remain based in Vista, California. Founder and President Steve Barker will continue to manage the brand, reporting to Gatto. Executive Vice President Ricky Schlesinger will also continue in his current role, reporting to Barker.

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