VF completes acquisition of Supreme

VF
Corporation, a global leader in branded lifestyle apparel, footwear and
accessories, recently announced that it has completed its previously announced
acquisition of Supreme, a privately-owned global streetwear brand, for an
aggregate base purchase price of $2.1 billion subject to customary adjustments
for cash, indebtedness, working capital and transaction expenses. As a result
of the transaction, Supreme has become a wholly owned subsidiary of VF
Corporation.

The
acquisition of the Supreme brand accelerates VF’s consumer-minded,
retail-centric, hyper-digital business model transformation and builds on a
long-standing relationship between Supreme and VF, with the Supreme brand being
a regular collaborator with VF’s Vans, The North Face and Timberland brands.

Supreme
is expected to be modestly accretive to VF’s revenue and adjusted earnings per
share in fiscal 2021. The Supreme brand is expected to contribute at least $500
million of revenue and $0.20 of adjusted EPS in fiscal 2022.