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Owner Of Timberland & Vans Considers Acquisitions

By  |  June 14, 2020

The company behind Timberland, Vans and The North Face is on the lookout for further acquisitions despite coronavirus uncertainty, saying it could be a good time to expand its collection of clothing, footwear and accessories brands, reported the Financial Times.

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    “In times like this, some of the greatest returns could be generated through acquiring,” Steve Rendle, chairman and chief executive of New York-listed VF Corp, said in an interview. 

    While he made clear that organic growth was VF’s biggest priority, Mr Rendle said he saw potential opportunities to buy smaller rivals in subsectors including athleisure, outdoor and activewear.

    Analysts said Canada Goose, Gap’s Athleta and Columbia Sportswear could be among the types of targets for VF, which has a market capitalisation of $24bn. Mr Rendle did not comment on any particular company. Coronavirus has caused a slump in global dealmaking, and the total mergers and acquisitions value of $955bn so far in 2020 is the lowest since 2013. 

    There have been some transactions in sectors such as technology, but concern about the outlook for consumer spending has made buyers reluctant to swoop on retail and consumer companies. Total deal value in the sector of $96bn is the slowest since 2010, according to Refinitiv.

    Full Content: Financial Times

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