Done Deals: ABG Is Set to Acquire Eddie Bauer + More FN Staff
May 7, 2021:
SPARC Group LLC announced that it would acquire
Eddie Bauer from the Golden Gate Capital-owned PSEB Group. ABG will own the outdoor brand’s intellectual property, and its core operating business will become part of the SPARC portfolio. The transaction is expected to close by June 1. “The addition of Eddie Bauer introduces a new and highly differentiated expertise to the SPARC organization,” SPARC CEO Marc Miller said in a statement. “The brand pushes the boundaries of technical innovation and performance with award-winning outdoor product offerings, bringing an entirely new component to our fashion and lifestyle brand portfolio.” International growth will be an important part of Eddie Bauer’s new brand strategy, with near-term launches in China and Korea as well as opportunities in the Latin America, Europe and Asia-Pacific regions.
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Pic: JHVEPhoto / Shutterstock.com VF Corporation, a global leader in branded lifestyle apparel, footwear and accessories, has entered into a definitive agreement to sell the occupational portion of its Work segment to a subsidiary of Redwood Capital Investments, LLC, a diversified holding company. VF Corp is headquartered in Denver, while Redwood is headquartered in Baltimore, both in US.
The occupational workwear portion of VF’s Work segment includes Red Kap, VF Solutions, Bulwark, Workrite, Walls, Terra, Kodiak, Work Authority and Horace Small brands. The sale does not include the Dickies and Timberland PRO brands.
“The sale of our occupational work brands reflects our continued focus on transforming VF into a more consumer-minded and retail-centric enterprise while further simplifying our portfolio and operating model. We are pleased to have reached this agreement with Redwood Capital Investme
® brands.
Commenting on the agreement, VF’s Chairman, President and Chief Executive Officer, Steve Rendle said, “The sale of our occupational work brands reflects our continued focus on transforming VF into a more consumer-minded and retail-centric enterprise while further simplifying our portfolio and operating model. We are pleased to have reached this agreement with Redwood Capital Investments. They are an ideal owner to guide these brands and businesses into their next phase of growth.”
The transaction, which is expected to close in the first quarter of fiscal 2022, is subject to customary closing conditions and regulatory approvals for a closing to occur. Terms of the agreement were not disclosed.
VF Corp To Sell Occupational Portion Of Work Segment To Redwood Capital Investments Unit finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
Dive Brief:
Tweaking its portfolio once again, VF Corp. on Wednesday said it has a definitive agreement to sell some of its work apparel brands to a subsidiary of holding company Redwood Capital Investments, for an unspecified amount.
The transaction is expected to close in the first quarter of fiscal 2022, subject to customary closing conditions and regulatory approvals, according to a company press release. Terms of the agreement were not disclosed.
The brands represent the occupational workwear portion of VF s work segment and include Red Kap, VF Solutions, Bulwark, Workrite, Walls, Terra, Kodiak, Work Authority and Horace Small, the company said. The sale doesn t include Dickies or Timberland PRO.