Posts Tagged ‘Sell’

Steamboat Springs Smartwool, owned by Timberland, get acquired by VFC, VF Company, VF Corp

Monday, June 13th, 2011

Local Steamboat company Smartwool, owned by Timberland, get acquired by VFC.
Real estate sales is closely tied to the job market. One of the major employers in Steamboat Springs in a wonderful wool apparels company Smartwool. Their roots and firmly planted in Steamboat and are an important part of the community and job source employing upwards of 65 people in Steamboat Spring. A few years ago Smartwool was acquired by The Timberland company. A seamless transition to local Steamboat residences, Smartwool continues to grow and become one of the industry leader in wool blended active clothing.

This morning, VFC acquired The Timberland Company and Smartwool. VFC is a $7 billion-plus apparel powerhouse with such brands like, The NorthFace, Wrangler, Lee, Jansport, Vans, to name a few. Here’s some specifics on the deal:
‘• Transformative Acquisition Will Create $10B Global Apparel & Footwear Powerhouse
• Addition of Timberland(R) and Smartwool(R) Brands Will Boost VF’s Outdoor & Action Sports Business to 50% of Total Revenues
• Will Provide Significant EPS Accretion in 2011 and 2012
• Acquisition was for $43 dollars per share ‘