VF Mergers and Acquisitions Summary

Apparel/textilesCompany

VF has acquired 20 companies, including 4 in the last 5 years. A total of 5 acquisitions came from private equity firms. It has also divested 10 assets.

VF’s largest acquisition to date was in 2011, when it acquired Timberland for $2.0B. It’s largest disclosed sale occurred in 2016, when it sold V.F. - Contemporary Brands Businesses to Delta Galil Industries for $120M. VF has acquired in 7 different US states, and 4 countries. The Company’s most targeted sectors include apparel/textiles (90%) and business services (6%).

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M&A Summary

  • M&A Total Activity29
    • M&A Buy Activity19
    • M&A Sell Activity10
  • Total Sectors Invested 3
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 15
  • M&A Advisors 4

VF

V.F. Corporation

8505 East Orchard Road,
Greenwood Village, North Carolina 80111
United States,
(720) 778-4000
www.vfc.com

VF is a producer of branded lifestyle apparel with more than 30 brands. The company’s top six brands are The North Face, Wrangler, Timberland, Vans, Lee and Nautica. VF was formed in 1899 and is based in Greensboro, North Carolina.


M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.8/yr) # 15 1 2 - 1 - 19
vol $4.5B $820M $5.4B
Sell (1.0/yr) # 5 1 2 1 - 1 10
vol $120M $120M
  29

Most Recent M&A

Company Date Value Type
V.F. Corp. - The Occupational Workwear 2021-04-28 - Divestiture
Greenwood Village, North Carolina
Supreme 2020-11-09 - Add-on Acquisition
New York, New York
Kontoor Brands, Inc. 2019-05-23 - Spin Off
Greensboro, North Carolina · www.kontoorbrands.com
Reef Holdings Corp. 2018-10-04 - Divestiture
San Diego, California · www.reef.com
Icebreaker New Zealand Ltd. 2018-04-03 - Add-on Acquisition
Auckland, New Zealand · www.icebreaker.com
Nautica Apparel, Inc. 2018-03-19 - Divestiture
New York, New York · www.nautica.com
Icon Health & Fitness, Inc. - Altra 2018-03-14 - Divestiture
Logan, Utah · www.altrarunning.com
Williamson-Dickie Manufacturing Co. 2017-08-14 820M USD Add-on Acquisition
Fort Worth, Texas · www.dickies.com
V.F. Corp. - Licensed Sports Group Business 2017-04-04 - Divestiture
, United States
7 For All Mankind LLC 2016-06-30 - Divestiture
Rancho Dominguez, California · www.7forallmankind.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Vans, Inc.    - Switch Manufacturing, Inc. 1998-07-21 1
Cypress, California · www.vans.com San Francisco, California

M&A by Sector

Sector Buy # Value Sell # Value
Apparel/Textiles 17 (89%) 5.3B (98%) 9 (90%) 120M (100%)
Business Services 1 (5%) 57M (1%) - -
Leisure 1 (5%) 25M (< 1%) - -
Retail - - 1 (10%) -
Total 19 $5.4B 10 $120M

By Geo

State/Country Buy Value Sell Value
United States 16 5.4B 10 120M
  California 7 1.3B 4 -
  New York 3 1.2B 2 -
  North Carolina - - 3 120M
  Utah 1 - - -
  Texas 1 820M - -
  Pennsylvania 1 - - -
  New Hampshire 1 2.0B - -
Belgium 1 - - -
New Zealand 1 - - -
Spain 1 - - -
Domestic 16 (84%) 5.4B (100%) 10 (100%) 120M (100%)
Cross-border 3 (16%) - - -
Total 19 $5.4B 10 $120M

Top M&A Advisors

Financial Deals
Bank of America Merrill Lynch (BofA Securities)
1
Citigroup Investment Banking
1
Barclays Investment Bank
1
Legal Deals
Davis Polk & Wardwell LLP
2

Deal Values

buy # Total
> $1B 1 $2.0B
$100M to $1B 6 $3.3B
< $100M 2 $82M
TOTAL $5.4B
Largest Timberland LLC
$2.0B (2011-09-13)
sell # Total
$100M to $1B 1 $120M
TOTAL $120M
Largest V.F. Corp. - Contemporary Brands Businesses
$120M (2016-06-30)

M&A Connections

Deals
Acquired from
Investor(s)
21%
4 (21%)
Strategic(s)
21%
4 (21%)
Divested to
Investor(s)
20%
2 (20%)
Strategic(s)
70%
7 (70%)

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