VF Corp Purchases Dickies for $820M
VF Corp, the apparel and footwear maker of Timberland and Wrangler clothing, announced on Monday it would buy Williamson-Dickie Mfg. Co, the parent company of Dickies and Workrite workwear.
According to Reuters, VF Corp will purchase the company for about $820 million. As a result, VF Corp anticipates its 2017 revenue to rise 3.5 percent to $11.85 billion. The company also expects the purchase to add 2 cents to its earnings forecast.
VF Corp hopes the long-term effects continue, and it's projecting the acquisition to add more than $1 billion in revenue by 2021.
The deal is expected to close in the fourth quarter.
Dickies has long been a workwear favorite for those in construction and safety jobs, and in the promo world, the workwear staples are sold through alphabroder. It's uncertain how this deal will affect its promotional business, but it doesn't look like much, if anything, will change.