VF Corporation to acquire Supreme
VF Corporation, the owner of The North Face, Vans and Timberland, is to acquire the Supreme streetwear brand from current investors The Carlyle Group and Goode Partners.
The transaction is expected to complete in late 2020 subject to regulatory approval. Supreme founder James Jebbia and the rest of the senior leadership team will remain with the company at its New York headquarters following the acquisition.
Steve Rendle, VF’s chairman, president and chief executive, said: “VF is the ideal steward to honour the authentic heritage of this cultural lifestyle brand while providing the opportunity to leverage our scale and expertise to enable sustainable long-term growth.
“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.”
The acquisition follows a longstanding relationship between Supreme and VF where Supreme has been a regular collaborator with Vans, The North Face and Timberland.
Jebbia said: “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. This partnership will maintain our unique culture and independence, while allowing us to grow on the same path we’ve been on since 1994.”
