Business negotiation news: VF Corporation buys Timberland
The deal will be worth some $2 billion after VF Corporation agreed to pay $43 a share.
VF Corporation has agreed a deal to buy the footwear and apparel maker Timberland in a deal thought to be worth nearly $2 billion (£1.2 billion).
The former company, which already owns Wrangler and the North Face, has agreed to pay $43 a share after business negotiations on the agreement were completed.
Eric Wiseman, chairman and chief executive officer of VF Corporation, noted Timberland is "synonymous with high quality outdoor" wear.
"This will be a winning combination, leveraging VF's international and direct-to-consumer platforms to drive growth in the Timberland and Smartwool brands globally," he added.
Mr Wiseman's organisation has targeted a ten per cent increase in annual revenue growth for Timberland by using its established profile in Europe, Asia and Latin America to raise its awareness.
VF has had to demonstrate sales negotiation skill on a number of occasions in bolstering its brands, which also include Vans, Eastpak, Lee and Eagle Creek.
Posted by Edel Quinn