VF sells occupational work brands to Redwood Capital Investments
29 Apr 2021
VF Corporation has entered into an agreement to sell the occupational portion of its work segment to a subsidiary of Redwood Capital Investments, LLC, a diversified holding company.
The company said in a release that the occupational workwear portion of VF’s work segment includes brands Red Kap, VF Solutions, Bulwark, Workrite, Walls, Terra, Kodiak, Work Authority and Horace Small. The sale does not include the Dickies and Timberland PRO brands.
Commenting on the agreement, VF’s chairman, president and CEO, Steve Rendle said: “The sale of our occupational work brands reflects our continued focus on transforming VF into a more consumer-minded and retail-centric enterprise while further simplifying our portfolio and operating model. Redwood Capital Investments are an ideal owner to guide these brands and businesses into their next phase of growth.”