WASHINGTON (dpa-AFX) - VF Corp. (VFC) agreed to buy a privately-owned global streetwear brand Supreme. Current investors, The Carlyle Group and Goode Partners, are selling their stakes in the Supreme brand, the company said in a statement.
The transaction is expected to be completed late in calendar year 2020.
The Supreme brand is expected to be modestly accretive to VF's revenue and adjusted earnings per share in fiscal 2021. The Supreme brand is expected to contribute at least $500 million of revenue and $0.20 of adjusted earnings per share in fiscal 2022.
Copyright RTT News/dpa-AFX
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