VF sells occupational portion of its work segment to Redwood Capital
Davis Polk is advising VF Corporation in connection with the sale of the occupational portion of its work segment to a subsidiary of Redwood Capital Investments, LLC, a diversified holding company. The transaction, which is expected to close in the first quarter of fiscal 2022, is subject to customary closing conditions and regulatory approvals. Financial terms of the transaction were not disclosed.
Founded in 1899, VF Corporation is one of the world’s largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans, The North Face, Timberland and Dickies. Redwood is a long-term holding company headquartered in Baltimore, Maryland, that acquires and builds businesses across a diverse set of industries.
The Davis Polk corporate team includes partners Marc O. Williams and Daniel Brass and associates Molly I. Manning and Sharanjit Kaur Sandhu. Partner Michael Mollerus and associate Daniel L. Jose are providing tax advice. Partner Jeffrey P. Crandall and associate Justin Alexander Kasprisin are providing executive compensation advice. Partner Frank J. Azzopardi and associate Samantha Lefland are providing intellectual property advice. All members of the Davis Polk team are based in the New York office.