VF Corporation Enters into Definitive Agreement to Sell the Nautica® Brand Business to Authentic Brands Group, LLC
V.F. Corporation (VFC)
Last v.f. corporation earnings: 1/23 06:55 am
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ir.vfc.com
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Source: Business Wire
GREENSBORO, N.C.--(BUSINESS WIRE)-- VF Corporation (NYSE:VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced that it has entered into a definitive agreement to sell the Nautica® brand business to Authentic Brands Group (ABG), LLC. Commenting on the transaction, VF’s Chairman, President and Chief Executive Officer Steve Rendle said, “As part of VF’s global business strategy, we’ve stated that our highest priority is to actively 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 recognized brand, and Authentic Brands Group is the ideal owner to guide its next phase of growth and success.” “We are thrilled to welcome
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