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Company News

Vans owner VF Corp to buy streetwear brand Supreme for $2.1 billion

Nov 9 (Reuters) - Vans owner VF Corp said on Monday it would pay $2.1 billion to buy popular streetwear brand Supreme, which is expected to add at least $500 million to the apparel company’s annual revenue in fiscal 2022.

VF Corp said it would pay an additional $300 million subject to satisfaction of certain post-closing milestones.

It added that Carlyle Group and Goode Partners are selling their stakes in privately owned Supreme. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Maju Samuel)

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