VF Corporation Completes Acquisition of Williamson-Dickie Mfg. Co.

国产探花

GREENSBORO, N.C.--(BUSINESS WIRE)-- VF Corporation (NY撸管网站: VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced that it has completed its previously announced acquisition of Williamson-Dickie Mfg. Co., a family-owned, private workwear company, for $820 million in cash, adjusted for closing and working capital changes. As a result of the transaction, Williamson-Dickie has become a wholly owned subsidiary of VF Corporation.

The acquisition combines Williamson-Dickie鈥檚 brands, including Dickies庐, Workrite庐, Kodiak庐, Terra庐, and Walls庐 with VF鈥檚 current workwear offerings, including Wrangler庐 RIGGS Workwear庐, Timberland PRO庐, Red Kap庐, Bulwark庐, and Horace Small庐 to create a global leader in workwear with approximately $1.7 billion in annual revenue that will serve a broader set of consumers and industries around the world.

For 2017, Williamson-Dickie is expected to contribute approximately $200 million of revenue and approximately $0.02 to VF鈥檚 earnings per share, excluding transaction and other deal-related expenses. By 2021, Williamson-Dickie is expected to contribute more than $1 billion of revenue, which will accelerate VF鈥檚 revenue to over $15 billion and earnings per share to more than $5.00.

About VF

VF Corporation (NY撸管网站: VFC) outfits consumers around the world with its diverse portfolio of iconic lifestyle brands, including Vans庐, The North Face庐,听Timberland庐, Wrangler庐 and Lee庐. Founded in 1899, VF is one of the world鈥檚 largest apparel, footwear and accessories companies with socially and environmentally responsible operations spanning numerous geographies, product categories and distribution channels. VF is committed to delivering innovative products to consumers and creating long-term value for its customers and shareholders. For more information, visit聽.

Forward-looking Statements

Certain statements included in this release and attachments are 鈥渇orward-looking statements鈥� within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting VF and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as 鈥渨ill,鈥� 鈥渁nticipate,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渟hould,鈥� and 鈥渕ay鈥� and other words and terms of similar meaning or use of future dates. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of VF to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to: foreign currency fluctuations; the level of consumer demand for apparel, footwear and accessories; disruption to VF鈥檚 distribution system; VF鈥檚 reliance on a small number of large customers; the financial strength of VF鈥檚 customers; fluctuations in the price, availability and quality of raw materials and contracted products; disruption and volatility in the global capital and credit markets; VF鈥檚 response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior, intense competition from online retailers, manufacturing and product innovation; increasing pressure on margins; VF鈥檚 ability to implement its business strategy; VF鈥檚 ability to grow its international and direct-to-consumer businesses; VF鈥檚 and its customers鈥� and vendors鈥� ability to maintain the strength and security of information technology systems; stability of VF鈥檚 manufacturing facilities and foreign suppliers; continued use by VF鈥檚 suppliers of ethical business practices; VF鈥檚 ability to accurately forecast demand for products; continuity of members of VF鈥檚 management; VF鈥檚 ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; maintenance by VF鈥檚 licensees and distributors of the value of VF鈥檚 brands; changes in tax liabilities; legal, regulatory, political and economic risks; and adverse or unexpected weather conditions. More information on potential factors that could affect VF鈥檚 financial results is included from time to time in VF鈥檚 public reports filed with the Securities and Exchange Commission, including VF鈥檚 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

VF Corporation
Joe Alkire, 336-424-7711
VP, Investor Relations and Financial Planning & Analysis
joe_alkire@vfc.com
or
Craig Hodges, 336-424-5636
Senior Director, Corporate Communications
craig_hodges@vfc.com

Source: VF Corporation

Released October 2, 2017