Local outdoor apparel brand Icebreaker has been picked up by VF Corp for $204.3 million. The label's trailing 12 month revenue was $150 million when the deal was revealed in November 2017 and VF Corp at the time added that Icebreaker was to be an immediate positive to its bottom line. VF Corp paid nearly 1.4 times sales to extend its outdoor business with Icebreaker. Icebreaker recognised early on that to reach its full potential it needed to connect with an established international entity or group. The Icebreaker acquisition is set to close this month during the end of the first quarter.
Moving forward, acquisitions are still at the forefront of VF Corp's priorities.