Asset Purchase Agreement Executed for Rock and Republic Brand
GREENSBORO, N.C. & CULVER CITY, Calif.-- VF Corporation (NYSE: VFC), Rock and Republic Enterprises and The Official Committee of Unsecured Creditors have executed an asset purchase agreement for VF Corporation to acquire the trademarks and intellectual property of Rock and Republic. VF Corporation is only acquiring the Rock and Republic brand name, not the business operations or retail stores. The agreement is subject to Bankruptcy court approval and is expected to close in Spring of 2011. Rock and Republic wishes to assure its customers that the transition over the next few months will be smooth and seamless, and that all orders will continue to be filled pursuant to their terms.
When completed, the transaction will mark the first acquisition for VF's Licensed Brands group, led by David Conn, which was formed in July of 2009.
About VF Corporation
VF Corporation is a global leader in branded lifestyle apparel with more than 30 brands, including Wrangler(R), The North Face(R), Lee(R), Vans(R), Nautica(R), 7 For All Mankind(R), Eagle Creek(R), Eastpak(R), Ella Moss(R), JanSport(R), lucy(R), John Varvatos(R), Kipling(R), Majestic(R), Napapijri(R), Red Kap(R), Reef(R), Riders(R)and Splendid(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