VF announces sale of one of its brands
04/10/2018
California-based surf-inspired footwear brand Reef is to be sold to Rockport, subject to the successful completion of the deal. VF said it expects the deal to be complete by the end of October.
Former Crocs chief executive Greg Ribatt took up the leadership of Rockport soon after the brand’s acquisition by private equity firm Charlesbank in the middle part of this year. He commented on Rockport’s proposed acquisition of Reef by saying: “Reef is a powerful brand with deep authenticity and an incredibly loyal customer base. We are excited to work with the strong leadership team that has been guiding Reef through its brand evolution and resurgence. We believe in the team’s growth plans across consumer, product and geographic expansion.”
Reef will operate as an independent brand and will maintain its Carlsbad, California, headquarters.
Share this story:
