USA: VF Completes Eastpak Acquisition

By just-style.com | 31 May 2000

VF Corporation (NYSE: VFC) announced today that it has completed the acquisition of the Eastpak branded business from Sunbeam Corporation (NYSE: SOC). The agreement for the acquisition was announced on March 20, 2000. Eastpak is a leading brand name in backpacks, book bags and other school accessories with annual sales of approximately $90 million.

Eastpak is being integrated into VF's JanSport subsidiary. Paul Delorey, president of JanSport, has assumed global responsibilities for Eastpak's operations. JanSport recently formed the VF Europe Back Pack division to consolidate JanSport's existing European business with that of Eastpak's. Jim Thomsen, vice president of sales for JanSport, has been named vice president/general manager of Back Packs Europe, which will be headquartered in Brussels.

With $5.6 billion in sales, VF Corporation is the world's largest apparel company and a leader in jeanswear, intimate apparel, workwear, knitwear, playwear, daypacks and swimwear. Its principal brands include Lee, Wrangler, Riders, Rustler, Vanity Fair, Vassarette, Bestform, Lily of France, Lee Sport, Healthtex, Jantzen, JanSport and Red Kap. Its international intimate apparel brands include Lou, Bolero, Variance, Carina, Belcor, Gemma and Intima Cherry. VF Corporation's press releases, annual report and other information can be accessed through the company's home page on the World Wide Web, www.vfc.com.

Companies: Eastpak, Jantzen