V.F. Corp Completes Acquisition
Ticker: VFC · Form: 8-K · Filed: Oct 2, 2024 · CIK: 103379
Sentiment: neutral
Topics: acquisition, debt, assets
Related Tickers: VFC
TL;DR
VFC just closed a deal, details light but senior notes are still on the books.
AI Summary
On October 1, 2024, V.F. Corporation (VFC) reported the completion of an acquisition. The filing does not specify the target company or the financial details of the transaction, but it does list several senior notes due in 2026, 2028, 2029, and 2032.
Why It Matters
This filing indicates a significant strategic move by V.F. Corporation, potentially altering its business structure and future revenue streams.
Risk Assessment
Risk Level: medium — The completion of an acquisition inherently carries integration risks and financial implications that could impact the company's performance.
Key Numbers
- 2026 — Senior Notes Due (Indicates outstanding debt obligations.)
- 2028 — Senior Notes Due (Indicates outstanding debt obligations.)
- 2029 — Senior Notes Due (Indicates outstanding debt obligations.)
- 2032 — Senior Notes Due (Indicates outstanding debt obligations.)
Key Players & Entities
- V.F. Corporation (company) — Registrant
- October 1, 2024 (date) — Date of earliest event reported
- 2026 (date) — Senior Notes Due
- 2028 (date) — Senior Notes Due
- 2029 (date) — Senior Notes Due
- 2032 (date) — Senior Notes Due
FAQ
What specific assets or business was acquired by V.F. Corporation?
The filing does not specify the target of the acquisition, only that the 'Completion of Acquisition or Disposition of Assets' is an item being reported.
What was the financial value of the acquisition?
The filing does not disclose the financial terms or dollar amounts associated with the completed acquisition.
When did the acquisition officially close?
The earliest event reported in the filing is dated October 1, 2024, which is the date of the report and likely the closing date.
Does this acquisition impact V.F. Corporation's existing debt?
The filing lists several senior notes due in 2026, 2028, 2029, and 2032, but does not explicitly state if the acquisition impacts these existing obligations.
What is the primary business of V.F. Corporation?
V.F. Corporation is primarily involved in the Men's & Boys' Furnishings, Work Clothing, and Allied Garments industry.
Filing Stats: 822 words · 3 min read · ~3 pages · Grade level 9.4 · Accepted 2024-10-02 06:06:31
Key Financial Figures
- $1,500,000,000 — VF an aggregate base purchase price of $1,500,000,000, subject to customary adjustments for c
Filing Documents
- d867848d8k.htm (8-K) — 34KB
- d867848dex991.htm (EX-99.1) — 7KB
- g867848g0930212531776.jpg (GRAPHIC) — 2KB
- g867848g0930212532016.jpg (GRAPHIC) — 2KB
- 0001193125-24-230625.txt ( ) — 220KB
- vfc-20241001.xsd (EX-101.SCH) — 5KB
- vfc-20241001_def.xml (EX-101.DEF) — 14KB
- vfc-20241001_lab.xml (EX-101.LAB) — 24KB
- vfc-20241001_pre.xml (EX-101.PRE) — 15KB
- d867848d8k_htm.xml (XML) — 9KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (b) Unaudited Pro Forma Condensed Consolidated Financial Information. VF expects to file the Unaudited Pro Forma Condensed Consolidated Balance Sheet of VF as of June 29, 2024 and the Unaudited Pro Forma Condensed Consolidated Statements of Operations of VF for the three months ended June 29, 2024 and for each of the years ended March 30, 2024, April 1, 2023 and April 2, 2022, giving effect to the sale of Supreme, in a current report on Form 8-K no later than October 7, 2024, which is the fourth business day after the completion of the Disposition. Exhibit No. Description 2.1* Stock and Asset Purchase Agreement dated as of July 16, 2024 between V.F. Corporation and EssilorLuxottica S.A. (incorporated herein by reference to Exhibit 2.1 to the Current Report on Form 8-K filed by VF with the SEC on July 17, 2024). 99.1 Press Release issued by V.F. Corporation and EssilorLuxottica S.A., dated October 2, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Certain schedules and exhibits have been omitted pursuant to Item 601(b)(2) of Regulation S-K. VF hereby agrees to furnish a copy of any omitted schedule or exhibit to the SEC upon request.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: October 2, 2024 V.F. CORPORATION By: /s/ Jennifer S. Sim Name: Jennifer S. Sim Title: Chief Legal Officer & Corporate Secretary