VF confirms interest in acquiring Billabong - sportstextiles: Lea SportsTextiles

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VF confirms interest in acquiring Billabong

15/01/2013
Clothing group VF Corporation, owner of brands such as The North Face, Timberland, Vans and Jansport, has, along with San Francisco-based venture capital firm Altamont, submitted a formal letter expressing interest in the acquisition of Australian surfwear brand Billabong.

VF said the non-binding, joint letter of interest sets forth preliminary indicative terms to acquire Billabong. The Australian company has agreed to allow VF and Altamont to conduct due diligence to evaluate its business.

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