VF Corp completes Dickies acquisition
VF Corporation has acquired workwear company Williamson-Dickie Mfg. Co. for $820 million cash. With the Dickies acquisition, VF Corp forecasts its future annual workwear revenues will reach approximately $1.7 billion.
FashionNetwork.com first reported the terms of the acquisition here in August.
VF Corp has now successfully completed the acquisition on time. Williamson-Dickie was formerly a family owned private workwear company headquartered in Texas. It will now operate as a wholly owned subsidiary of VF Corp.
The acquisition will make VF Corp a global leader in workwear by adding Williamson-Dickie's brands Dickies, Workrite, Terra and Walls to VF Corp's existing workwear brands. These include Wrangler, RIGGS Workwear and Timberland PRO among others.
According to a statement by VF Corp, "For 2017, Williamson-Dickie is expected to contribute approximately $200 million of revenue."
In four years, by the year 2021, VF Corp expects Williamson-Dickie to contribute over $1 billion of revenue to VF Corp. This will help drive VF Corp's total revenue past $15 billion at that time.
Copyright © 2021 FashionNetwork.com All rights reserved.