Eyewear giant EssilorLuxottica has reached an agreement with VF Corporation to acquire the Supreme brand for $1.5 billion in cash.
said Wednesday it had reached an agreement with VF Corporation to acquire the Supreme brand for $1.5 billion in cash.“It perfectly aligns with our innovation and development journey, offering us a direct connection to new audiences, languages and creativity. With its unique brand identity, fully-direct commercial approach and customer experience – a model we will work to preserve –will have its own space within our house brand portfolio and complement our licensed portfolio as well.
“However, given the brand’s distinct business model and VF’s integrated model, our strategic portfolio review concluded there are limited synergies between Supreme and VF, making a sale a natural next step. Alongside the other notable brands inWhile VF Corp.
J.P. Morgan and Latham and Watkins are serving as exclusive financial and legal advisors to EssilorLuxottica on the transaction, respectively. Goldman Sachs & Co. LLC is serving as lead financial advisor and UBS Investment Bank is serving as financial advisor to VF. Davis Polk & Wardwell LLP is acting as legal advisor to VF.
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