VF to Buy Kiwi Out­door Brand Ice­breaker

Shoes & Accessories - - Contents -

VF Corp, the owner of Vans, Tim­ber­land and other pop­u­lar footwear and ap­parel brands, has an­nounced that it has signed a de­fin­i­tive agree­ment to pur­chase Auck­land-based Ice­breaker Hold­ings, Ltd., a pri­vately held out­door and sport ap­parel brand.

The trans­ac­tion is ex­pected to be com­pleted early in 2018 and the ad­di­tion of the Ice­breaker brand to the con­glom­er­ate’ port­fo­lio is ex­pected to be im­me­di­ately ac­cre­tive to earn­ings per share.

“Bring­ing the Ice­breaker brand into the VF port­fo­lio is a spe­cial op­por­tu­nity. Its nat­u­ral fiber fo­cus is an ideal com­ple­ment to our Smart­wool brand, which also fea­tures Merino in its cloth­ing and ac­ces­sories. To­gether, the Smart­wool and Ice­breaker brands cre­ate an ad­van­taged po­si­tion for VF as a leader in the grow­ing and un­der­pen­e­trated nat­u­ral fiber cat­e­gory,” said VF chair­man, pres­i­dent and CEO Steve Ren­dle.

Ice­breaker was founded in 1995 on the be­lief and its en­tire prod­uct as­sort­ment is based on Merino wool, plant-based fibers and re­cy­cled fibers. Ice­breaker has 340 full-time em­ploy­ees and its prod­ucts are sold in 47 coun­tries.

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