VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, completed its previously announced acquisition of Supreme®, a global streetwear brand, for an aggregate base purchase price of $2.1 billion subject to customary adjustments for cash, indebtedness, working capital and transaction expenses.
Founded in 1899, VF Corporation is an apparel, footwear and accessories company owning a family of iconic outdoor, active and workwear brands including Vans®, The North Face®, Timberland® and Dickies®.
As a result of the transaction, Supreme® has become a wholly owned subsidiary of VF Corporation. The acquisition accelerates VF’s retail-centric, hyper-digital business model transformation and builds on a long-standing relationship between Supreme® and VF, with the Supreme® brand being a regular collaborator with VF’s Vans®, The North Face® and Timberland® brands.
Supreme® is expected to be modestly accretive to VF’s revenue and adjusted earnings per share in fiscal 2021. The Supreme® brand is expected to contribute at least $500 million of revenue and $0.20 of adjusted EPS in fiscal 2022.