VF Corp. Announces the Sale of Several Workwear Brands

Posted April 28, 2021 at 12:04 pm



VF Corp., Denver, announced on April 28 that it’s entered into a definitive agreement to sell several well-known workwear brands, including Red Kap®, Bulwark® and Workrite®, to a diversified holding company called Redwood Capital Investments LLC. The sale doesn’t include the Dickies® or Timberland PRO® brands, according to a news release.

“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,” said VF Chairman, President and CEO Steve Rendle. “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.”

Brett Barthel, vice president of sales & business development for VF, added that, “We couldn’t have picked a better investment firm. On behalf of the VF Workwear Management team, we are excited to join the Redwood family of companies. Redwood’s philosophy of long-term investment bodes well for the workwear category and our vision of continued market leadership with word-class service, innovation and a leading workplace environment.”

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, the release said. Terms were not disclosed. Click here to review the full release.

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