FOR IMMEDIATE RELEASE
|
Contact: | Cindy Knoebel | ||
| VP, Financial & Corporate | ||||
| Communications | ||||
| VF Services, Inc. | ||||
| (336) 424-6189/(212) 841-7141 |
VF COMPLETES SALE OF INTIMATE APPAREL BUSINESS
TO FRUIT OF THE LOOM, INC.
TO FRUIT OF THE LOOM, INC.
Greensboro, NC — April 2, 2007 — VF Corporation (NYSE:VFC), a leader in branded lifestyle
apparel, announced today that it has completed the sale of its global intimate apparel business to
Fruit of the Loom, Inc., a subsidiary of Berkshire Hathaway, Inc. (NYSE: BRK.A and BRK.B). Proceeds
of the sale will consist of the previously disclosed $350 million purchase price, plus adjustment
for working capital changes. As previously indicated, VF plans to use the proceeds from
the sale to repurchase shares in 2007.
The intimate apparel business includes such leading brands as Vanity Fair®, Lily of France®,
Vassarette®, Bestform® and Curvation® in the U.S. and Lou®, Gemma® and Belcor® in Europe. Fruit of
the Loom plans to operate these businesses as Vanity Fair Brands, a wholly-owned subsidiary.
About the Company
VF Corporation is a leader in branded lifestyle apparel including jeanswear, outdoor products,
image apparel and sportswear. Its principal brands include Wranglerâ,
Leeâ, Ridersâ, Rustlerâ, The North
Faceâ, Vansâ, Reefâ,
Napapijriâ, Kiplingâ, Nauticaâ, John
Varvatosâ, JanSportâ, Eastpakâ, Eagle
Creekâ, Lee Sportâ, Majesticâand Red
Kapâ.
VF Corporation’s press releases, annual report and other information can be accessed through
the Company’s home page, www.vfc.com.