VF Corporation (VFC) Acquires Seven For All Mankind and lucy activewear
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VF Corporation (NYSE: VFC) has signed definitive agreements to acquire two companies, Seven For All Mankind, LLC and lucy activewear, inc. The two companies will form the foundation of a new lifestyle brand-based coalition, VF Contemporary Brands, which VF intends to build with additional contemporary brands over time.
VF has agreed to pay $775 million for Seven For All Mankind, LLC and $110 million for lucy activewear, inc. The acquisitions will be financed through existing cash, borrowings under its existing credit facility and the placement of long-term debt. Both acquisitions are subject to receipt of customary government approvals and other customary conditions and are expected to be completed by the end of August.
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