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VF Corp to sell occupational portion of Work segment


Pic: JHVEPhoto / Shutterstock.com


VF Corporation, a global leader in branded lifestyle apparel, footwear and accessories, 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. VF Corp is headquartered in Denver, while Redwood is headquartered in Baltimore, both in US.

The occupational workwear portion of VF’s Work segment includes Red Kap, VF Solutions, Bulwark, Workrite, Walls, Terra, Kodiak, Work Authority and Horace Small brands. The sale does not include the Dickies and Timberland PRO brands.

“The 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,” VF’s chairman, president and chief executive officer, Steve Rendle said in a statement.

The 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.

Fibre2Fashion News Desk (RKS)


VF Corporation, a global leader in branded lifestyle apparel, footwear and accessories, 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. VF Corp is headquartered in Denver, while Redwood is headquartered in Baltimore, both in US.



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