VF Corp. To Acquire Williamson-Dickie Mfg. Co.; Raises Outlook - Quick Facts

(RTTNews) - VF Corp. (VFC) and Williamson-Dickie Mfg. Co., a family-owned, private global workwear company, jointly announced a merger agreement. VF will pay Williamson-Dickie shareholders approximately $820 million in cash. Based in Fort Worth, Texas, Williamson-Dickie employs over 7,000 individuals worldwide.

VF Corp. updated its outlook for 2017 to include the impact of the Williamson-Dickie acquisition, excluding transaction and other deal-related expenses. Earnings per share is now expected to be $2.96, versus the previous expectation of $2.94, and includes about a $0.02 contribution from Williamson-Dickie. Revenue is now expected to reach $11.85 billion, and includes about a $200 million contribution from Williamson-Dickie. This compares to the previous expectation of $11.65 billion.

VF Corp. updated its outlook for 2021 to include the impact of the Williamson-Dickie acquisition, excluding transaction and other deal-related expenses. Earnings per share is now expected to grow at a five-year CAGR between 11 percent and 13 percent to more than $5.00, versus the previous expectation of a five-year CAGR between 10 percent and 12 percent. Williamson-Dickie is expected to contribute more than $0.25 by 2021. Revenue through 2021 is now expected to grow at a five-year compounded annual growth rate between 5 percent and 7 percent to more than $15 billion, versus the previous expectation of a 4 percent to 6 percent five-year CAGR. Williamson-Dickie is expected to contribute more than $1 billion of revenue by 2021.