Clothing Leader VF Denounced $2 Billion To Acquire Well-Known Outdoor Brand Timberland
Well-known
brand
North Face and Vans
Clothes & Accessories
Leading manufacturer VF Corp (US-VFC) announced that in order to expand the scope of portfolio investment, such as Japan and other countries, will spend about $2 billion acquisition of mountaineering supplies manufacturer Timberland Co (US-TBL).
According to FactSet data from research institutions, sales of Timberland are about $1 billion 600 million this year (2011), while VF for leading businesses will be about $8 billion 500 million.
In a conference call with analysts, VF executive director Eric Wiseman said the company appreciated Timberland 10 years ago, which helped companies expand their operations to countries that had not been reached before, such as China.
On the one hand, VF can help Timberland expand clothing and women's products business, and create more in Europe, Asia and Latin America.
retail
Storefront.
VF said that the board voted to approve the merger, which is expected to be set in the third quarter of this year and will bring an increase of $700 million for VF's revenue this year.
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