The Outdoor Brand Timberland Has Been Acquired. Garment Manufacturer VF Corp Will Accept It For 2 Billion Dollars.

VF, the famous clothing maker, said on Monday that the company intends to buy Timberland Co, VF, a manufacturer of mountaineering shoes and outdoor products for more than 2 billion 200 million dollars, including its famous jeans brand Wrangler, men's brand brand Nautica and the famous outdoor sports brand The North Face.

VF said the deal would make Timberland part of its outdoor brand business, and VF said its outdoor sports business would create more than 50% of the company's revenue.

VF's takeover bid for Timberland was $43 per share, a premium of 43.4% compared to its closing price last Friday.

VF, headquartered in Boluo, North Carolina, says the two companies' board has approved the deal.

VF expects the deal to end in the third quarter of this year.

Investors are very optimistic about this acquisition, VF Group's share price rose 10% to 101.01 dollars per share.

At the same time, Timberland's share price rose by 44.1% to $43.2 per share.

VF Group plans to increase Timberland revenue by $300000000 over the next 5 years.

Timberland's two major goal in the future is to expand the retail network and expand the women's shoes series.

Since 2010, Timberland has invested a lot of money in developing women's shoes, including hiring new women's shoes designers, launching new marketing, advertising and retail channels.

Although the focus of the whole series is still on women's shoes, women's clothing and accessories will be gradually introduced in the future.

Timberland expects its revenue in the 2011 fiscal year to be US $1 billion 600 million.

VF said the paction is expected to increase the company's earnings per share in the 2011 fiscal year by 25 cents and increase its revenue by $700 million.