V F CORP (VFC): M&A transaction — VF Corp completes Supreme sale to EssilorLuxottica for $1.5B; expects ~$1.475B net proceeds

V F CORP

Sold Supreme to EssilorLuxottica for $1.5B on October 1, 2024; net cash proceeds estimated at $1.475B.
Proceeds will repay delayed draw term loan ($1B), commercial paper ($250M), and partially redeem 2025 notes ($224.3M).
Supreme classified as discontinued operation; pro forma shows net loss of $147.9M for Q1 FY2025 vs $258.9M reported.
Pro forma FY2024 net loss widened to $1.01B from $968.9M reported, due to impairment and interest adjustments.
Transition services agreement entered with EssilorLuxottica for post-closing services.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

V F CORP completed a disposition involving EssilorLuxottica S.A. for $1.5 billion (closed 2024-10-01).

Action: disposition
Counterparty: EssilorLuxottica S.A.
Consideration: $1.5 billion
Closing: 2024-10-01

Exact text from the filing

Agreement"), dated July 16, 2024, between the Company and EssilorLuxottica S.A. ("Buyer"). Pursuant to the Purchase Agreement, VF agreed to sell Supreme to the Buyer for $1.5 billion, subject to customary adjustments for cash, indebtedness, working capital and transaction expenses as set forth in the Purchase Agreement. The Company expects to receive net cash

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30 m&a transactions filed in the last 30 days. Browse all m&a transactions →

V F CORP filing history →

Source: SEC EDGAR

accession 0000103379-24-000024

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