VF Completes Acquisition of Mo Industries
VF Corporation and Mo Industries Holdings Inc. announce that VF has acquired the remaining two-thirds of the capital stock of Mo Industries, owner of the Splendid and Ella Moss contemporary sportswear brands. VF had previously purchased one-third of Mo Industries stock from its owners -- founder Moise Emquies and Summit Partners, a private equity and venture capital firm for growth companies -- in June 2008.
"We're very pleased to be adding two strong and growing brands to our portfolio," says Mike Egeck, president for Contemporary Brands. "These brands not only complement each other well, but they also complement our 7 For All Mankind and lucy brands. The addition of the Splendid and Ella Moss brands and the move of the John Varvatos business to our coalition provide us with the ability to service the contemporary consumer and lifestyle in many different ways."
The Splendid and Ella Moss brands will become part of VF's Contemporary Brands coalition, which also includes the 7 For All Mankind and lucy brands. In addition, VF has decided to shift responsibility for its John Varvatos luxury men's sportswear business from its Sportswear coalition to its Contemporary Brands coalition, further underscoring its commitment to growing its Contemporary Brands portfolio.
"We're very pleased to be adding two strong and growing brands to our portfolio," says Mike Egeck, president for Contemporary Brands. "These brands not only complement each other well, but they also complement our 7 For All Mankind and lucy brands. The addition of the Splendid and Ella Moss brands and the move of the John Varvatos business to our coalition provide us with the ability to service the contemporary consumer and lifestyle in many different ways."
The Splendid and Ella Moss brands will become part of VF's Contemporary Brands coalition, which also includes the 7 For All Mankind and lucy brands. In addition, VF has decided to shift responsibility for its John Varvatos luxury men's sportswear business from its Sportswear coalition to its Contemporary Brands coalition, further underscoring its commitment to growing its Contemporary Brands portfolio.