VF Corporation Enters Into Definitive Agreement to sell its Licensed Sports Group Business to Fanatics, Inc.

GREENSBORO, N.C. – April 4, 2017 – VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced that it has entered into a definitive agreement to sell its Licensed Sports Group (LSG) business to Fanatics, Inc. VF’s LSG business includes the Majestic® brand, which supplies apparel and fanwear through licensing agreements with U.S. and international professional sports leagues and teams.

The transaction, which is expected to close in the second quarter of this year, is subject to standard customary closing conditions for a closing to occur. Terms of the agreement were not disclosed.