VF Corp. announced that it has completed its previously announced acquisition of Supreme, the streetwear brand, for an aggregate base purchase price of $2.1 billion.
The final purchase price remains subject to customary adjustments for cash, indebtedness, working capital and transaction expenses. As a result of the transaction, Supreme has become a wholly-owned subsidiary of VF Corporation.
VF said the acquisition of the Supreme brand “accelerates VF’s consumer-minded, retail-centric, hyper-digital business model transformation and builds on a long-standing relationship between Supreme and VF, with the Supreme® brand being a regular collaborator with VF’s Vans, The North Face and Timberland brands.”
Supreme is expected to be modestly accretive to VF’s revenue and adjusted earnings per share in fiscal 2021. The Supreme brand is expected to contribute at least $500 million of revenue and 20 cents of adjusted EPS in fiscal 2022.
Photo courtesy Supreme
