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Timberland Sold To VF Corporation For $2 Billion Dollars

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This morning, VF Corp. completed a final acquisition before deal makings subside for the long summer months. The parent company to familiar labels such as Nautica, VANS, The North Face, Jansport and etc... announced the purchase of Timberland for $43 per share, or $2 billion dollars. WIth this merger, VF believes it can increase Timberland's appeal to international consumer base through VF's extensive distribution platforms in Europe, Asia, and South America. By leveraging its resource, VF also added that it is able to reduce Timberland's costs. With Timberland's labels portfolio such as as Timberland Boot Company, Mountain Athletics, Timberland PRO, and the growing SmartWool, VF is aiming for a 10% increase in annual revenue for the brand. As for brand chairman Sidney Swartz and CEO Jeffrey Swartz, son and grand-son to the Timberland's founder Nathan Swartz, along with much of label's executive team will stay on.