VF Corp. considers selling backpack maker Jansport: report
U.S. fashion and footwear giant VF Corp. is considering a sale of its Jansport backpack business, according to a Bloomberg report.
A deal could value Jansport at about $500 million, sources told Bloomberg on Friday. VF is said to be working with an adviser on the sale process for Jansport.
The company hasn’t made a final decision on pursuing a sale of Jansport and could decide to keep the brand, sources added.
A representative for VF declined to comment.
Founded in 1967, Jansport is an American maker of backpacks and collegiate apparel, as well as travel bags and other related products.
In 2020, Denver-based VF Corp acquired streetwear brand Supreme for $2.1 billion, expanding its portfolio alongside footwear brands Vans and Timberland, as well as outdoorwear brand, The North Face.
Most recently, VF announced the retirement of chairman, president and chief executive officer Steve Rendle in December.
The U.S. company’s lead independent director, Benno Dorer, will serve as interim CEO while VF searches for a permanent chief.
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