Authentic Brands Group has detailed a definitive agreement to purchase the American lifestyle brand, Nautica from VF Corporation.
The transaction will mark a major milestone for ABG as the company will complete its largest brand acquisition to date and propel its portfolio to nearly $7 billion in global retail sales.
“Nautica is a world class brand and we are thrilled to bring it into the ABG portfolio,” said Jamie Salter, chairman and CEO and ABG. “Nautica has significant global presence and incredible consumer reach.
“Through this acquisition we come closer to our goal of achieving $10 billion in global retail sales worldwide by 2020.”
As part of this transaction, ABG will take on Nautica’s brand marketing and licensing functions. Nautica is a revered American lifestyle brand, with over $1.2 billion in annual retail sales, over 5,000 global points of sale, including 270 freestanding stores and more than 40 licensing partners around the world.
The transaction, which is expected to close in the first half of 2018, is subject to standard customary closing conditions and regulatory approvals.