VF Corporation, a global leader in lifestyle and workwear apparel, footwear, and accessories, has acquired Supreme®, a privately-owned popular streetwear brand. Both companies have jointly announced that they have signed a definitive merger agreement.
It’s current investors, The Carlyle Group and Goode Partners, are currently selling their stakes in the Supreme® brand.
Though subject to customary closing conditions and regulatory approvals, the transaction is still expected to complete by the end of the 2020 calendar year.
“We are thrilled to welcome Supreme® to the VF family and to build on our decades-long relationship as we create value for all of our stakeholders. VF is the ideal steward to honor the authentic heritage of this cultural lifestyle brand while providing the opportunity to leverage our scale and expertise to enable sustainable long-term growth,” said Steve Rendle, VF’s Chairman, President, and Chief Executive Officer.
“The acquisition of the Supreme® brand is further validation of our vision and strategy to further evolve our portfolio of brands to align with the total addressable market opportunities we see driving the apparel and footwear sector. The Supreme® brand will further accelerate VF’s hyper-digital business model transformation and will be a meaningful driver of VF’s commitment to top-quartile total shareholder return and long-term value creation.”
“We are proud to join VF, a world-class company that is home to great brands we’ve worked with for years, including The North Face®, Vans®, and Timberland®,” said Jebbia. “This partnership will maintain our unique culture and independence while allowing us to grow on the same path we’ve been on since 1994.”
VF Corporation is one of the world’s largest apparel, footwear, and accessory company that was founded in 1899. Some of its reputed brands include Vans®, The North Face®, Timberland®, and Dickies®.
Supreme® on the other hand is well-known streetwear, founded in April 1994.
