Apparel brand maker VF Corp. (VFC) added to its clothing portfolio Monday, announcing the purchase of Williamson-Dickie Mfg Co. for $820 million in cash.
Williamson-Dickie reported revenue of about $875 million over the last 12 months and VF Corp expects the purchase to result in an increase in revenue to $11.85 billion this year from its previous view of $11.65 billion.
Earnings forecasts for the year were also increased to $2.96 per share from the previous view of $2.94 per share.
VF Corp. shares were unchanged at $61.58 premarket Monday.
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