{"id":483015,"date":"2021-04-28T06:58:08","date_gmt":"2021-04-28T10:58:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\/"},"modified":"2021-04-28T06:58:08","modified_gmt":"2021-04-28T10:58:08","slug":"vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\/","title":{"rendered":"VF Corporation Enters Into Definitive Agreement to Sell the Occupational Portion of Its Work Segment"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>VF Corporation Enters Into Definitive Agreement to Sell the Occupational Portion of Its Work Segment <\/b><\/p>\n<p>DENVER&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nVF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced that it has entered into a definitive agreement to sell the occupational portion of its Work segment to a subsidiary of Redwood Capital Investments, LLC, a diversified holding company.\n<\/p>\n<p>\nThe occupational workwear portion of VF\u2019s Work segment includes the following brands: <i>Red Kap<sup>\u00ae<\/sup>, VF Solutions<sup>\u00ae<\/sup>, Bulwark<sup>\u00ae<\/sup>, Workrite<sup>\u00ae<\/sup>, Walls<sup>\u00ae<\/sup>, Terra<sup>\u00ae<\/sup>, Kodiak<sup>\u00ae<\/sup>, Work Authority<sup>\u00ae<\/sup><\/i> and <i>Horace Small<sup>\u00ae<\/sup>.<\/i><\/p>\n<p>\nThe sale does not include the <i>Dickies<sup>\u00ae<\/sup><\/i> and <i>Timberland PRO<sup>\u00ae<\/sup><\/i> brands.\n<\/p>\n<p>\nCommenting on the agreement, VF\u2019s Chairman, President and Chief Executive Officer, Steve Rendle said, \u201cThe sale of our occupational work brands reflects our continued focus on transforming VF into a more consumer-minded and retail-centric enterprise while further simplifying our portfolio and operating model. We are pleased to have reached this agreement with Redwood Capital Investments. They are an ideal owner to guide these brands and businesses into their next phase of growth.\u201d\n<\/p>\n<p>\nThe transaction, which is expected to close in the first quarter of fiscal 2022, is subject to customary closing conditions and regulatory approvals for a closing to occur. Terms of the agreement were not disclosed.\n<\/p>\n<p>\nBarclays is serving as exclusive financial advisor to VF on the transaction. Davis Polk &amp; Wardwell LLP is acting as legal advisor. J.P. Morgan is serving as exclusive financial advisor to Redwood Capital Investments and Kirkland &amp; Ellis, LLP is acting as legal advisor.\n<\/p>\n<p><b><i>About VF<\/i><\/b><\/p>\n<p>\nFounded in 1899, VF Corporation is one of the world\u2019s largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including <i>Vans<sup>\u00ae<\/sup>, The North Face<sup>\u00ae<\/sup>, Timberland<sup>\u00ae<\/sup> and Dickies<sup>\u00ae<\/sup>. <\/i>Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good. For more information, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.vfc.com%2F&amp;esheet=52417579&amp;newsitemid=20210428005051&amp;lan=en-US&amp;anchor=vfc.com.&amp;index=1&amp;md5=36840b62ccafa4575af13bdf58e4cd87\">vfc.com. <\/a><\/p>\n<p><b><i>About Redwood Capital Investments, LLC<\/i><\/b><\/p>\n<p>\nRedwood is a long-term holding company headquartered in Baltimore, MD that acquires and builds businesses across a diverse set of industries. Redwood\u2019s existing businesses operate in the distribution, dealership, equipment leasing and real estate industries. Redwood focuses on creating value through reinvesting in their businesses to drive growth and create opportunities for employee advancement while preserving company culture.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210428005051r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210428005051\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210428005051\/en\/<\/a><\/span><\/p>\n<p><b><span class=\"bwuline\">VF Corporation Contacts<\/span>:<br \/>\n<\/b><br \/>Joe Alkire<br \/>\n<br \/>Vice President, Corporate Development, Investor Relations and Treasury<br \/>\n<br \/>(720) 778-4051\n<\/p>\n<p>\nCraig Hodges<br \/>\n<br \/>Vice President, Corporate Affairs<br \/>\n<br \/>(720) 778-4116\n<\/p>\n<p><b>KEYWORDS:<\/b> Colorado United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Fashion Retail Other Retail Department Stores Manufacturing Textiles<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210428005051\/en\/747781\/3\/VF_Blue_Ball_New_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>VF Corporation Enters Into Definitive Agreement to Sell the Occupational Portion of Its Work Segment DENVER&#8211;(BUSINESS WIRE)&#8211; VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced that it has entered into a definitive agreement to sell the occupational portion of its Work segment to a subsidiary of Redwood Capital Investments, LLC, a diversified holding company. The occupational workwear portion of VF\u2019s Work segment includes the following brands: Red Kap\u00ae, VF Solutions\u00ae, Bulwark\u00ae, Workrite\u00ae, Walls\u00ae, Terra\u00ae, Kodiak\u00ae, Work Authority\u00ae and Horace Small\u00ae. The sale does not include the Dickies\u00ae and Timberland PRO\u00ae brands. Commenting on the agreement, VF\u2019s Chairman, President and Chief Executive Officer, Steve Rendle said, \u201cThe sale of our occupational work brands &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;VF Corporation Enters Into Definitive Agreement to Sell the Occupational Portion of Its Work Segment&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-483015","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>VF Corporation Enters Into Definitive Agreement to Sell the Occupational Portion of Its Work Segment - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VF Corporation Enters Into Definitive Agreement to Sell the Occupational Portion of Its Work Segment - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"VF Corporation Enters Into Definitive Agreement to Sell the Occupational Portion of Its Work Segment DENVER&#8211;(BUSINESS WIRE)&#8211; VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced that it has entered into a definitive agreement to sell the occupational portion of its Work segment to a subsidiary of Redwood Capital Investments, LLC, a diversified holding company. The occupational workwear portion of VF\u2019s Work segment includes the following brands: Red Kap\u00ae, VF Solutions\u00ae, Bulwark\u00ae, Workrite\u00ae, Walls\u00ae, Terra\u00ae, Kodiak\u00ae, Work Authority\u00ae and Horace Small\u00ae. The sale does not include the Dickies\u00ae and Timberland PRO\u00ae brands. Commenting on the agreement, VF\u2019s Chairman, President and Chief Executive Officer, Steve Rendle said, \u201cThe sale of our occupational work brands &hellip; Continue reading &quot;VF Corporation Enters Into Definitive Agreement to Sell the Occupational Portion of Its Work Segment&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-28T10:58:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210428005051r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"VF Corporation Enters Into Definitive Agreement to Sell the Occupational Portion of Its Work Segment\",\"datePublished\":\"2021-04-28T10:58:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\\\/\"},\"wordCount\":483,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210428005051r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\\\/\",\"name\":\"VF Corporation Enters Into Definitive Agreement to Sell the Occupational Portion of Its Work Segment - 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The occupational workwear portion of VF\u2019s Work segment includes the following brands: Red Kap\u00ae, VF Solutions\u00ae, Bulwark\u00ae, Workrite\u00ae, Walls\u00ae, Terra\u00ae, Kodiak\u00ae, Work Authority\u00ae and Horace Small\u00ae. The sale does not include the Dickies\u00ae and Timberland PRO\u00ae brands. Commenting on the agreement, VF\u2019s Chairman, President and Chief Executive Officer, Steve Rendle said, \u201cThe sale of our occupational work brands &hellip; Continue reading \"VF Corporation Enters Into Definitive Agreement to Sell the Occupational Portion of Its Work Segment\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-28T10:58:08+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210428005051r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"VF Corporation Enters Into Definitive Agreement to Sell the Occupational Portion of Its Work Segment","datePublished":"2021-04-28T10:58:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\/"},"wordCount":483,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210428005051r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/vf-corporation-enters-into-definitive-agreement-to-sell-the-occupational-portion-of-its-work-segment\/","name":"VF Corporation Enters Into Definitive Agreement to Sell the Occupational Portion of Its Work Segment - 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