Headlines

Timberland Gets New Owner

VF Corp. agrees to buy outdoor clothing company

Published

13 years ago

June 13, 2011

VMSD Staff

Timberland Co. (Stratham, New Hampshire) has been acquired by apparel maker VF Corp. (Greensboro, N.C.) for about $2 billion.

VF agreed to pay 9.5 times Timberland’s earnings before interest, taxes, depreciation and amortization, according to data compiled by Bloomberg.

“VF will benefit from Timberland’s rugged outdoor footwear expertise, international penetration in markets such as Japan, and leadership position in sustainability,” says Eric Wiseman, VF chairman and ceo, in a VF press release.

The purchase is scheduled to close by the end of summer.

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