US apparel giant VF Corp has completed its acquisition of the Altra athletic and performance-based lifestyle footwear brand from Icon Health & Fitness.

Launched in 2011, Altra is currently sold in 55 countries through more than 1,600 speciality retail locations and a branded e-commerce platform.

VF says Altra provides the business with a "unique and differentiated" technical footwear brand and will serve as a catalyst for growth within its outdoor and performance segment.

As a result of the transaction, the brand has become a wholly owned subsidiary of VF Corporation – and is expected to be immediately accretive to earnings per share.

The acquisition was first announced in March of this year. Speaking at the time, VF said on a trailing 12-month basis, the Altra brand generated about US$50m of revenue.