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VF Imagewear acquires Majestic Athletic

01 Mar '07

2 min read

VF Imagewear Inc, a subsidiary of VF Corporation and Majestic Athletic Inc announced that VF Imagewear Inc has acquired substantially all of the assets of Majestic Athletic Inc and its related companies. Majestic is the leading global provider of authentic sports licensed apparel and branded team uniforms for Major League Baseball and is based in Bangor, Pa.

"The acquisition of Majestic Athletic provides us a terrific opportunity to grow VF's presence in the authentic sports apparel category," said VF Corporation Chairman and CEO Mackey J. McDonald. He noted that this marks VF's second acquisition to date in 2007, the first being the purchase of Eagle Creek, Inc. in January. Together, these acquisitions should add approximately $180 million to VF's revenues in 2007.

Ed Doran, President of VF Imagewear Inc, stated, "Majestic Athletic products are known for their authenticity and performance, and are highly desired by a base of 145 million fans around the world. Majestic Athletic complements VF Imagewear's Activewear division with its unique expertise in authentic and replica product, as well as its superior streamlined service model. This effectively opens exclusive access to new channels of retail distribution. Combined with our current fanwear business, this acquisition positions VF Imagewear as a leader in Major League Baseball licensed apparel with attractive future growth prospects."

Majestic's headquarters and manufacturing operations will remain in Bangor, and will become part of VF Imagewear's Activewear division, based in Tampa, Fla. Faust Capobianco IV, President of Majestic and the son of current Majestic Chairman Faust Capobianco III, will lead the entire baseball business as Vice President/General Manager, Major League Baseball (MLB), Domestic and International Licensed Sales, reporting to Rick Becker, Vice President Sales & Marketing, VF Imagewear, Activewear division. Nicole Capobianco will also remain and oversee all Major League Baseball outfitting activities.

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