Whoa! It looks like a big transaction has brought together two classic fashion brands: Vans and Dickies.
According to Business Insider, Vans’ parent company VF Corp has acquired Williamson-Dickie Mfg. Co for $820 million, adding both Dickets and Workrite to the portfolio.
The report says that the acquisition will boost VF’s 2017 revenue by 3.5%, which puts them at $11.85 billion USD in annual earnings. Projections also say that by 2021, Williamson-Dickie will add over a billion additional dollars into VF’s revenue.
The deal is expected to close early in the fourth quarter.