PJ SOLOMON is serving as exclusive financial advisor to VF on the transaction. Davis Polk and Wardwell LLP is acting as legal advisor.
VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, has entered into a definitive agreement to sell the Reef® brand to The Rockport Group (Rockport) of Newton, Massachusetts. A leading maker of casual and dress shoes, Rockport is a portfolio company of Charlesbank Capital Partners, LLC (Charlesbank), a middle-market private equity firm.
Reef will operate as an independent global brand under The Rockport Group, and will maintain its Carlsbad, California, headquarters.
The transaction, which is expected to close in October 2018, is subject to customary closing conditions and regulatory approvals for a closing to occur. Terms of the agreement were not disclosed.
Davis Polk is advising VF Corporation with a team including partner Daniel Brass (Picture) and associate John B. Weinstein. Partner Veronica M. Wissel and associate Brian Gregory Sieben are providing executive compensation advice. Partner Frank J. Azzopardi and associate Samantha Lefland are providing intellectual property and technology advice. Partner Rachel D. Kleinberg and associate Alexander J. Hendin are providing tax advice.
Involved fees earner: Daniel Brass – Davis Polk & Wardwell; John Weinstein – Davis Polk & Wardwell; Veronica Wissel – Davis Polk & Wardwell; Brian Gregory Sieben – Davis Polk & Wardwell; Frank Azzopardi – Davis Polk & Wardwell; Samantha Lefland – Davis Polk & Wardwell; Rachel Kleinberg – Davis Polk & Wardwell; Alexander Hendin – Davis Polk & Wardwell;
Law Firms: Davis Polk & Wardwell;
Clients: VF Corporation;