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U.S. based branded lifestyle apparel, footwear and accessories, VF Corporation, has completed the acquisition of the Altra brand, whose men’s casual shoe collection also includes leather.
As previously reported by ILM, VF Corp signed a definitive agreement to acquire the brand from ICON Health & Fitness in March 2018. As a result of the transaction, the brand has become a wholly owned subsidiary of VF Corp, but the terms of the agreement have not been disclosed.
“The Altra brand provides VF with a unique and differentiated technical footwear brand and a capability that, when applied across VF’s outdoor footwear, direct-to-consumer and international platforms, will serve as a catalyst for growth within the outdoor and performance segment. The addition of the brand to VF’s portfolio is expected to be immediately accretive to earnings per share”, reads a statement.