Davis Polk is advising VF Corporation on the sale of its Licensed Sports Group business to Fanatics, Inc. The transaction, which is expected to close in the second quarter of 2017, is subject to customary closing conditions. Financial terms of the transaction were not disclosed.

Founded in 1899, VF is one of the world’s largest apparel, footwear and accessories companies with socially and environmentally responsible operations spanning numerous geographies, product categories and distribution channels. VF outfits consumers around the world with its diverse portfolio of lifestyle brands, including Vans, The North Face, Timberland, Wrangler and Lee. VF’s Licensed Sports Group includes the Majestic brand, which supplies apparel and fan-ware through licensing agreements with U.S. and international professional sports leagues and teams. Fanatics is a market leader for authentic, officially licensed sports merchandise and offers a collection of timeless and timely gear from every pro and college team.

The Davis Polk corporate team includes partner Marc O. Williams and associates Francesca Campbell and Mark S. Kramer. Counsel David R. Bauer and associate Samantha Lefland are providing intellectual property and technology advice. Partner Veronica M. Wissel and associate Brian Gregory Sieben are providing executive compensation advice. Associate Brian D. Hirsch is providing real estate advice. Partner Kathleen L. Ferrell and associate Dao Fu are providing tax advice. All members of the Davis Polk team are based in the New York office.