Sports merchandise retailer Fanatics has completed the acquisition of VF Corporation’s Licensed Sports Group (LSG).
VF’s LSG business supplies fan wear and merchandise through licensing and distribution agreements with professional sports leagues and teams.
This development is a culmination of the definitive agreement signed in April between VF and Fanatics for the sale of LSG.
Fanatics CEO Doug Mack said: “We will continue to lead growth and innovation throughout the licensed sports industry by uniting our shared passion to provide exceptional experiences for fans globally.”
“Together, we plan to introduce even more agility into product creation and distribution to ensure more unique and timely items are readily accessible for fans across all channels in this increasingly ‘On Demand’ world.”
The companies did not disclose financial details of the transaction.
Established in 1899, VF has several lifestyle brands, including Vans, The North Face, Timberland, Wrangler and Lee.
Fanatics provides online assortment of licensed items via its Fanatics, FansEdge and Kitbag brands, as well as a selection of sports collectibles and memorabilia through Fanatics Authentic.
A multichannel company, Fanatics has more than 300 online and offline stores, including the e-commerce business for professional sports leagues, major media brands, and more than 200 collegiate and professional team properties.