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VF Corporation, the U.S based manufacturer of footwear and outdoor brands which includes Timberland, completed the sale of its Contemporary Brands businesses on August 26, 2016.
VF Corp has announced that it has completed the sale of its Contemporary Brands businesses, which include 7 for All Mankind, Splendid, and Ella Moss, to Delta Galil Industries, a global manufacturer and marketer of private label clothing.
As reported by ILM, VF entered into a definitive agreement with Delta Galil regarding the sale of these businesses end of June. The final selling price has not been confirmed but has been estimated at US$120 million, subject to various working capital adjustments.