VF Outdoor Completes Acquisition of Eagle Creek, Inc.
GREENSBORO, N.C.--
VF Outdoor, Inc., a subsidiary of VF Corporation (NYSE: VFC), today announced that it has completed its previously announced acquisition of Eagle Creek, Inc., the nation's leading supplier of adventure travel gear, including accessories, luggage, daypacks and other products. Terms were not disclosed.
"We are pleased to add the Eagle Creek(R) brand to VF Outdoor's portfolio of high-growth businesses, which include the Vans(R), Reef(R), The North Face(R), Napapijri(R), JanSport(R) and Eastpak(R) brands. Our outdoor brands all share several key attributes: they are managed by experienced leaders supported by talented associates, they are authentic brands that have global appeal within their target markets, and they are growing both domestically and internationally," said Dave Gatto, President of VF Outdoor, Inc.
VF expects the Eagle Creek brand to add approximately $30 million to 2007 revenues and to sustain high single-digit sales growth over the next several years.
Eagle Creek will remain based in Vista, California. Founder and President Steve Barker will continue to manage the brand and will report to Gatto. Executive Vice President Ricky Schlesinger will also continue in his current role, reporting to Barker.
About Eagle Creek
Eagle Creek is a maker of adventure travel gear, luggage, travel accessories and packing solutions for active, adventurous souls. Founded in 1975 by Steve and Nona Barker, California-based Eagle Creek, Inc., invented the adventure travel gear category, introduced the industry's first convertible backpack on wheels, and is revolutionizing the way travelers pack with its Pack-It(R) folders, cubes, sacs and toiletry kit organizing system.
About VF Corporation
VF Corporation is a leader in branded apparel including jeanswear, outdoor products, image apparel and sportswear. Its principal brands include Lee(R), Wrangler(R), Riders(R), Rustler(R), Nautica(R), John Varvatos(R), JanSport(R), Eastpak(R), The North Face(R), Vans(R), Reef(R), Napapijri(R), Kipling(R), Eagle Creek(R), Lee Sport(R) and Red Kap(R). VF Corporation's press releases, annual report and other information can be accessed through the Company's home page, www.vfc.com.
Source: VF Corporation
Released January 29, 2007