VF Corp. has completed the company’s previously-announced acquisition of Icebreaker Holdings, Ltd., a privately-held company based in Auckland, New Zealand. The purchase price was about $200 million.
As a result of the transaction, Icebreaker Holdings has become a wholly-owned subsidiary of VF Corporation. Terms of the agreement were not announced.
VF said the acquisition of Icebreaker “is an ideal complement to VF’s Smartwool brand, which also features Merino wool in its clothing and accessories. Together, the Smartwool and Icebreaker brands will position VF as a global leader in the Merino wool and natural fiber categories.”
The Icebreaker brand is expected to be immediately accretive to VF’s earnings per share.
According to VF’s annual report, VF paid NZ$288 million ($204.3 million at December 30, 2017) for Icebreaker.
Photo courtesy Icebreaker