DENVER — December 28, 2020 — VF Corp. today announced that it has completed its previously announced acquisition of Supreme®, a privately-owned 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. As a result of the transaction, Supreme has become a wholly owned subsidiary of VF Corp.
The acquisition of the Supreme brand accelerates VF’s consumer-minded, 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.
Posted December 29, 2020
Source: VF Corporation