M&A Deal Summary

VF Acquires Icebreaker New Zealand

On April 3, 2018, VF acquired apparel/textiles company Icebreaker New Zealand from Pencarrow Private Equity

Acquisition Highlights
  • This is VF’s 16th transaction in the Apparel/Textiles sector.
  • This is VF’s 1st transaction in New Zealand.

M&A Deal Summary

Date 2018-04-03
Target Icebreaker New Zealand
Sector Apparel/Textiles
Buyer(s) VF
Sellers(s) Pencarrow Private Equity
Deal Type Add-on Acquisition

Target

Icebreaker New Zealand

Auckland, New Zealand
Icebreaker New Zealand Ltd. is a producer of merino clothing for outdoors, technical sports, and lifestyle for men, women, and kids. Icebreaker was founded in 1995 and is based in Auckland, New Zealand.

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Buyer(S) 1

Buyer

VF

Denver, Colorado, United States

Category Company
Founded 1899
Sector Apparel/Textiles
Employees18,000
Revenue 10.5B USD (2024)
DESCRIPTION
Entrance to VF Corp.'s VF Jeanswear office in Greensboro, North Carolina.
Entrance to VF Corp.'s VF Jeanswear office in Greensboro, North Carolina.

VF is a producer of branded lifestyle apparel with more than 30 brands. VF was founded in 1899 and is based in Greensboro, North Carolina.


DEAL STATS #
Overall 18 of 19
Sector: Apparel/Textiles M&A 16 of 17
Type: Add-on Acquisition M&A Deals 12 of 13
Country: New Zealand M&A 1 of 1
Year: 2018 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-19 Nautica Apparel

New York, New York, United States

Nautica Apparel, Inc. is a designer and marketer of men's and women's apparel and accessories. Nautica Apparel, Inc. was formed in 1983 and is based in New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-04 Reef Holdings

San Diego, California, United States

Reef Holdings Corp. is a manufacturer of footwear. Reef leverages its brand image among its core consumers to expand its presence in shoes and apparel, both in the U.S. and internationally.

Sell -

Seller(S) 1

SELLER
DESCRIPTION

Pencarrow Private Equity is a private equity firm focused on investing in New Zealand owned and operated businesses. Pencarrow looks to support management buyouts, management buy-ins, and provide expansion capital for companies operating in a variety of sectors. Areas of interest include building materials, distribution, manufacturing, consumer products, business services, and capital equipment. Target companies are typically valued between NZ$20 and $150 million where the Firm can commit $10 to $30 million in equity capital. Pencarrow Private Equity was formed in 1993 and is based in Wellington, New Zealand.


DEAL STATS #
Overall 7 of 10
Sector: Apparel/Textiles M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 5
Country: New Zealand M&A 7 of 10
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Netlogix

Auckland, New Zealand

Netlogix Ltd. is a technology-enabled freight logistics company that connects independently contracted freight carriers with customer freight demand. Netlogix highly specialised offering that optimises a freight customer’s transport and logistics costs by finding the most efficient route and rate card across a network of carriers. Netlogix was established in 2013 and is based in Auckland, New Zeland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-02 The Collective

London, United Kingdom

The Collective is a manufacturer and distributor of gourmet yoghurt and related products through the grocery channel. The Collective is positioned as a premium brand centred on high-quality fresh and natural ingredients and has significant operations in New Zealand and the United Kingdom. The Collective was established in 2011 and is based in London, United Kingdom.

Buy -