VF Corporation agrees to sell clothing brand
21/03/2018
Chief executive of VF, Steve Rendle, said on making the announcement: “We’ve stated that our highest priority is to manage our brand portfolio to ensure that its composition positions us to accelerate growth. This announcement marks yet another example of how we’re delivering on our commitment. We are pleased to have reached this agreement with Authentic Brands Group. The Nautica brand is an iconic, globally recognised brand and Authentic Brands Group is the ideal owner to guide its next phase of growth and success.”
The transaction, which is expected to close in the first half of 2018, is subject to customary closing conditions and regulatory approvals for a closing to occur. Terms of the agreement were not disclosed.
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