VF Provides More Details about Jeanswear Spinoff
VF Corporation Announces Public Filing of Form 10 Registration Statement for Planned Separation of Kontoor Brands, Inc. and Availability of Investor Presentation
The filing provides detailed information on Kontoor Brands’ business, strategy and historical financial results.
“Our teams across VF have made tremendous progress to prepare for the successful separation of Kontoor Brands from VF and this filing is a significant next step in this process,” said Steve Rendle, Chairman, President and CEO of VF Corporation. “We are highly confident that the separation is the best path forward for both organizations to achieve even greater potential and enhance long-term shareholder value.”
The separation is on track to be completed in May of 2019, subject to final approval by VF’s Board of Directors, customary regulatory approvals, and tax and legal considerations.
“Today’s filing marks an important milestone in the process of establishing Kontoor Brands as an independent company,” said Scott Baxter, named CEO of Kontoor Brands. “As we prepare for life as a separate, publicly traded organization, I am confident that Kontoor Brands is strongly positioned to thrive as a leader in the global apparel industry and deliver long-term value for all of our stakeholders.”
The Form 10 filing is available at www.sec.gov under “Kontoor Brands, Inc.” An updated presentation on the planned separation is available at ir.vfc.com. For more information regarding the proposed separation, please visit TwoGlobalLeaders.com.
VF Corporation (NYSE: VFC) outfits consumers around the world with its diverse portfolio of iconic lifestyle brands, including Vans, The North Face, Timberland, Wrangler, and Lee. Founded in 1899, VF is one of the world’s largest apparel, footwear and accessories companies with socially and environmentally responsible operations spanning many geographies, product categories and distribution channels. VF is committed to delivering innovative products to consumers and creating long-term value for its customers and shareholders. For more information, visit www.vfc.com.