Bracken Darrell, president and chief executive of VF, explained that a strategic review concluded there were limited synergies between Supreme and VF, making the sale a logical step.
Focus on Long-Term Success
Supreme’s founder, James Jebbia, expressed optimism about the deal, noting it will allow the brand to concentrate on its products and customers while positioning itself for long-term success.
EssilorLuxottica $1.5B Streetwear Brand Buy : Regulatory Approval and Financial Advisers
The companies noted that the transaction requires regulatory approval but did not specify the authorities involved. They anticipate the deal will close by December.
J.P. Morgan Securities PLC is acting as financial adviser to EssilorLuxottica, while Goldman Sachs & Co. LLC and UBS Investment Bank are advising VF Corp. on financial matters.
