- Prachi Singh |
VF Corporation has announced that it has completed its previously announced acquisition of the Altra brand, an athletic and performance-based lifestyle footwear brand, from Icon Health & Fitness, Inc. As a result of this transaction, the brand has now become a wholly owned subsidiary of VF Corporation.
The company said in a statement that 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.
Picture:Icon Health & Fitness website