WOULD VF CORP. TAKEOVER CATAPULT NORTH FACE SHOES TO HIGHER LEDGE?
NEW YORK — The VF Corp.’s move to acquire The North Face Inc. has thrust the mammoth apparel firm into the shoe business, potentially giving a big boost to The North Face footwear. Greensboro, N.C.,-based VF, whose brands include Lee, Wrangler and Jantzen, two weeks ago agreed to acquire North Face stock for $2 a share in a bargain-basement deal that would cost about $25.4 million. “By acquiring The North Face, VF adds a global dimension to its growing portfolio of strong outdoor-lifestyle brands,” said Mackey McDonald, VF CEO. “Bringing VF’s operations strength to The North Face is a win-win situation.” San Leandro, Calif.,-based North Face, in financial hot water for months, said the deal would open new doors for the company. North…
