VF Corp. announced that the company has completed the company’s previously announced acquisition of the Altra, the running footwear brand. According to a regulatory filing, the purchase price is $135.0 million, subject to working capital and other adjustments.
The seller was Icon Health & Fitness, Inc. As a result of the transaction, the brand has become a wholly owned subsidiary of VF Corporation.
VF said in its statement, “The Altra brand provides VF with a unique and differentiated technical footwear brand and a capability that, when applied across VF’s outdoor footwear, direct-to-consumer and international platforms, will serve as a catalyst for growth within the outdoor and performance segment. The addition of the brand to VF’s portfolio is expected to be immediately accretive to earnings per share.”
