VF Corporation completes acquisition of Supreme®
Posted December 30, 2020
DENVER – VF Corporation, a global leader in branded lifestyle apparel, footwear and accessories, announced that it has completed its previously announced acquisition of Supreme®, a privately owned global streetwear brand, for an aggregate base purchase price of $2.1 billion subject to customary adjustments for cash, indebtedness, working capital and transaction expenses.
As a result of the transaction, Supreme® has become a wholly owned subsidiary of VF Corporation.
The acquisition of the Supreme® brand accelerates VF’s consumer-minded, retail-centric, hyper-digital business model transformation and builds on a long-standing relationship between Supreme® and VF, with the Supreme® brand being a regular collaborator with VF’s Vans®, The North Face® and Timberland® brands.
Supreme® is expected to be modestly accretive to VF’s revenue and adjusted earnings per share in fiscal 2021. The Supreme® brand is expected to contribute at least $500 million of revenue and $0.20 of adjusted EPS in fiscal 2022.
Source: VF Corporation