VF Corp. To Acquire Williamson-Dickie For About $820 Million In Cash

By Tonya Garcia Markets MarketWatch Pulse

VF Corp. said Monday that it will acquire Williamson-Dickie Mfg. Co., a family-owned workwear company, for about $820 million in cash. VF Corp.'s portfolio of brands includes Wrangler, Timberland and The North Face. Williamson-Dickie Mfg. brands include Dickies and Kodiak. Wiliamson-Dickie generated about $875 million in revenue in the last 12 months. The acquisition creates a company with about $1.7 billion in annual revenue, said VF Corp. Chief Executive Steve Rendle in a statement. VF Corp. now expects 2017 revenue to total $11.85 billion up from a previous $11.65 billion. Earnings are expected to be $2.96, up from previous guidance of $2.94. Adjusted EPS is expected to fall 1% from last year's $2.98 total. The FactSet consensus is for sales of $11.68 billion and EPS of $2.96. VF Corp. shares are unchanged in premarket trading, and up 15.4% for the year so far. The S&P 500 index is up 9% for 2017 to date.

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