VF to Acquire Eastpak Brand

With plans to extend their outdoor-oriented equipment and accessories division, VF Corporation has entered into a purchase agreement with Sunbeam Corporation to acquire its worldwide Eastpak branded business. Terms of the agreement were not disclosed.

"VF's acquisition strategy has always focused on companies with strong brand names, complementary distribution and revenue growth potential," stated Mackey McDonald, president and chief executive officer. "Eastpak's European presence is a perfect complement to JanSport's superb position in the U.S. market. This acquisition strengthens our global market position by substantially increasing the size of our backpack business."

Edited by Anndrea Vorobej