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VF Breaks Drought With $820 Million Deal For Dickies

(Rendle told Fortune this spring that VF's deal sweet spot were companies with the potential to achieve $1 billion in annual revenue.)

"VF is the ideal steward to honor that heritage while providing a platform for growth that ensures continued success for another century," Rendle said.

In June, at its analyst day, VF told Wall Street to expect a compound annual growth rate through 2021 of 4% to 6% , an ambitious goal in a difficult apparel and footwear market.

Rendle's predecessor and mentor, Eric Wiseman, oversaw the $2.3 billion purchase of Timberland in 2011, instantly doubling VF's footwear business.

Other deals haven't played out as well: The online athleisure wear brand Lucy, which it bought in 2007, was a bust and will be shut down this year and folded into The North Face.

READ MORE (Fortune)

  • VF Corp. Snaps Up Dickies' Maker for $820 Million in CashFootwear News
  • VF Buys Dickies Maker For $820 Million in
  • VF Corp. to acquire Williamson-Dickie workwear company for $820MCharlotte Business Journal
  • Dickies Gets the Job Done for VFBloomberg
  • Big check for Big Tex shirtmaker -- Fort Worth-based Dickies bought for $820 ...Dallas News
  • VF adds to workwear portfolio with plans to buy owner of Dickies brandWinston-Salem Journal
  • North Face-Parent VF to Buy Dickies Owner For $820 MillionWall Street Journal (subscription)
  • VF Corp to buy Dickies workwear maker for $820 millionReuters
  • VF Corp. (VFC) to Acquire Williamson-Dickie for $820M; Raises FY17 Outlook

This post first appeared on The 5th News, please read the originial post: here

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VF Breaks Drought With $820 Million Deal For Dickies


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