VF Corp offloads part of work segment - sportstextiles: Lea SportsTextiles

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VF Corp offloads part of work segment

29/04/2021
VF Corp offloads part of work segment
Clothing and footwear group VF Corporation has sold the occupational portion of its work segment to a subsidiary of Redwood Capital Investments, a holding company.

This includes the brands Red Kap, VF Solutions, Bulwark, Workrite, Walls, Terra, Kodiak, Work Authority and Horace Small, but doesn’t include Dickies or Timberland PRO.

VF CEO Steve Rendle said: “The sale of our occupational work brands reflects our continued focus on transforming VF into a more consumer-minded and retail-centric enterprise while further simplifying our portfolio and operating model. 

“We are pleased to have reached this agreement with Redwood Capital Investments. They are an ideal owner to guide these brands and businesses into their next phase of growth.”

The transaction is expected to close in the first quarter of fiscal 2022.

 

Image: Terra Boots


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