VF Corporation Enters into Definitive Agreement to Sell the Reef® Brand to The Rockport Group
V.F. Corporation (VFC)
Last v.f. corporation earnings: 1/23 06:55 am
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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 Reef® brand to The Rockport Group (Rockport) of Newton, Massachusetts. A leading maker of casual and dress shoes, Rockport is a portfolio company of Charlesbank Capital Partners, LLC (Charlesbank), a middle-market private equity firm. Commenting on the agreement, VF’s Chairman, President and Chief Executive Officer Steve Rendle said, “Reshaping VF’s brand portfolio to deliver sustainable, long-term growth and superior returns to shareholders remains our top priority. Today’s announcement is another step toward delivering on the commitments outlined in our multi-year business strategy. We are pleased to have reached this agreement with Rockport. The Reef brand is an iconic, beach lifestyle brand,
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