EssilorLuxottica Agrees To Acquire The Supreme Brand From VF For $1.5B Cash
Portfolio Pulse from Benzinga Newsdesk
EssilorLuxottica has agreed to acquire the Supreme brand from VF Corporation for $1.5 billion in cash. The transaction is expected to close by the end of CY2024, pending customary closing conditions and regulatory approvals. Supreme operates a digital-first business and 17 stores across the U.S., Asia, and Europe.
July 17, 2024 | 10:07 am
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POSITIVE IMPACT
EssilorLuxottica's acquisition of Supreme for $1.5 billion is expected to enhance its retail portfolio and digital presence. The deal is anticipated to close by the end of CY2024.
The acquisition of Supreme is likely to strengthen EssilorLuxottica's retail and digital capabilities, potentially driving growth and enhancing its market position.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
VF Corporation has agreed to sell the Supreme brand to EssilorLuxottica for $1.5 billion in cash. The transaction is expected to close by the end of CY2024.
The sale of Supreme will provide VF Corporation with significant cash inflow, which could be used for debt reduction, reinvestment, or shareholder returns.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100