VF Corporation, the parent company of Timberland, The North Face, and Vans, has announced it will sell Dickies to Bluestar Alliance in a $600 million all-cash deal.
Highlights
- Bluestar Alliance will acquire Dickies for $600 million.
- The deal is anticipated to be finalized by the end of calendar year 2025.
- The agreement comes amid turnaround efforts by VF Corporation.
Bluestar Alliance to Acquire Dickies from VF Corporation
VF Corporation, a leading company, parent firm to Timberland, The North Face, and Vans, acquired Dickies in 2017. Dickies, a century-old American brand, is known for its workwear roots and has recently gained popularity in U.S. streetwear circles.
Now sold in 55 countries, Dickies has built a reputation for durable, practical workwear that resonates with American workers and streetwear fans alike.
“Since 1922, Dickies has provided hard-wearing, long-lasting and comfortable clothes, cementing its status as a storied brand in performance workwear. We have a deep appreciation for its history and legacy, which VF Corporation has successfully begun to rebuild over the past few years,” said Joseph Gabbay, CEO, Bluestar Alliance.
“We are committed to supporting the Dickies brand’s growth by leveraging our consumer insights and operational excellence to unlock its full value for all stakeholders,” he added.
In a press release, VF’s President and CEO, Bracken Darrell, said he expects Bluestar Alliance to help Dickies reach its full growth potential.
The deal is expected to close by the end of 2025, pending standard closing conditions and regulatory approvals.
VF Corp’s Turnaround Efforts
In a turnaround strategy, VF Corporation expects that the transaction will help lower its debt.
“As I’ve said before, we continuously evaluate our portfolio and this transaction will enable us to bring our net debt level down and will be accretive to our growth on a pro-forma basis. I want to thank the entire Dickies team for their strong commitment to transforming the brand,” said Darrell.
By June, VF reported a 20% drop in debt to $1.4 billion compared with the same period last year. The sale of Dickies marks a strategic move for VF Corporation as it continues to streamline its portfolio and focus on financial stability.
The sale marks a new chapter for Dickies, a century-old American workwear brand with loyal fans across the U.S. and beyond.
