Vans parent company acquires Supreme in $2.1 billion deal

VF Corporation, a parent company of legendary skateboarding brand Vans, as well as few other high profile brands such as Dickies, The North Face, or Timberland, announced the acquisition of cult skateboarding and streetwear brand Supreme.

The announcement, on the VFC website, says: VF Corporation, a global leader in branded lifestyle apparel, footwear, and accessories, and Supreme, a privately-owned global streetwear brand, jointly announced that they have signed a definitive merger agreement. Current investors, The Carlyle Group and Goode Partners, are selling their stakes in the Supreme brand.

The transaction is expected to be completed late in the calendar year 2020, subject to customary closing conditions and regulatory approval. The Supreme brand’s founder, James Jebbia, and the senior leadership team of the brand will remain with the company, headquartered in New York City, New York.”

The website also offered statements from both, VF and Supreme. “We are thrilled to welcome Supreme to the VF family and to build on our decades-long relationship as we create value for all of our stakeholders. VF is the ideal steward to honor the authentic heritage of this cultural lifestyle brand while providing the opportunity to leverage our scale and expertise to enable sustainable long-term growth,” said Steve Rendle, VF’s Chairman, President, and Chief Executive Officer.

“The acquisition of the Supreme brand is further validation of our vision and strategy to further evolve our portfolio of brands to align with the total addressable market opportunities we see driving the apparel and footwear sector. The Supreme brand will further accelerate VF’s hyper-digital business model transformation and will be a meaningful driver of VF’s commitment to top quartile total shareholder return and long-term value creation.”

“We are proud to join VF, a world-class company that is home to great brands we’ve worked with for years, including The North Face, Vans, and Timberland,” said Jebbia. “This partnership will maintain our unique culture and independence, while allowing us to grow on the same path we’ve been on since 1994.”

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