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News Flash
Fruit of the Loom to acquire VF Intimate Apparel Business
03 Apr '07
1 min read
VF Corporation, a leader in branded lifestyle apparel, announced that it has completed the sale of its global intimate apparel business to Fruit of the Loom Inc, a subsidiary of Berkshire Hathaway Inc.
Proceeds of the sale will consist of the previously disclosed $350 million purchase price, plus adjustment for working capital changes. As previously indicated, VF plans to use the proceeds from the sale to repurchase shares in 2007.
The intimate apparel business includes such leading brands as Vanity Fair, Lily of France, Vassarette, Bestform and Curvation in the U.S. and Lou, Gemma and Belcor in Europe. Fruit of the Loom plans to operate these businesses as Vanity Fair Brands, a wholly-owned subsidiary.
VF Corporation is a leader in branded lifestyle apparel including jeanswear, outdoor products, image apparel and sportswear. Its principal brands include Wrangler, Lee, Riders, Rustler, The North Face, Vans, Reef, Napapijri, Kipling, Nautica, John Varvatos, JanSport, Eastpak, Eagle Creek, Lee Sport, Majesticand Red Kap.
Proceeds of the sale will consist of the previously disclosed $350 million purchase price, plus adjustment for working capital changes. As previously indicated, VF plans to use the proceeds from the sale to repurchase shares in 2007.
The intimate apparel business includes such leading brands as Vanity Fair, Lily of France, Vassarette, Bestform and Curvation in the U.S. and Lou, Gemma and Belcor in Europe. Fruit of the Loom plans to operate these businesses as Vanity Fair Brands, a wholly-owned subsidiary.
VF Corporation is a leader in branded lifestyle apparel including jeanswear, outdoor products, image apparel and sportswear. Its principal brands include Wrangler, Lee, Riders, Rustler, The North Face, Vans, Reef, Napapijri, Kipling, Nautica, John Varvatos, JanSport, Eastpak, Eagle Creek, Lee Sport, Majesticand Red Kap.
VF Corporation
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