Dickies, Workrite, Kodiak, Terra and Walls will join VF’s Imagewear coalition, which currently includes Wrangler, Riggs Workwear and Timberland Pro, among others.
Upon closing, Williamson-Dickie will become part of VF’s Imagewear coalition. Meanwhile, Philip Williamson, chief executive officer of Williamson-Dickie, will remain with the company.
The transaction is expected to be complete in Q4 of this year. Additionally, VF Corp’s revenue is now expected to reach $11.85 billion in 2017, up 3.5 percent on a reported basis, and includes roughly a $200 million contribution from Williamson-Dickie. This compares to the previously projected $11.65 billion, a 2 percent increased on a reported basis.
“When we introduced our 2021 global business strategy earlier this year, reshaping our portfolio to accelerate growth was our highest priority,” says Steve Rendle, president and chief executive officer, VF Corp. “The acquisition of Williamson-Dickie is another meaningful step that delivers on that commitment and further demonstrates our focus
“This acquisition combines two great companies and a group of iconic brands to create a global leader in workwear with approximately $1.7 billion in annual revenue,” continues Rendle. “Williamson-Dickie has a proud history and heritage, and has served a loyal consumer base for nearly 100 years. VF is the ideal steward to honor that heritage while providing a platform for growth that ensures continued success for another century. We look forward to welcoming Williamson-Dickie and its 7,000 dedicated employees to the VF family.”
Williamson-Dickie is known for its robust assortment of brands including: Dickies, Workrite, Kodiak, Terra and Walls. Through the merger agreement, these brands will join VF Corp.’s current workwear offerings, which includes Wrangler, Riggs Workwear, Timberland Pro, Red Kap, Bulwark and Horace Small.
“For nearly a century we’ve worked hard to judiciously grow our company and portfolio of strong brands to maintain our leadership in the global workwear marketplace,” says Williamson. “Today’s announcement is an authentic and natural next step as we look to combine the strengths of our two companies to create significant opportunities for our employees, vendors, retail partners and ultimately our customers. We expect that under VF’s leadership, we’ll be able to experience the next wave of growth and better meet the needs of workers everywhere.”
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