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Williamson-Dickie Sold for $820 Million: Company to Remain Headquartered in Fort Worth

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Williamson-Dickie Mfg. Co., a family-owned, landmark Texas business located in Fort Worth has just been sold to VF Corporation, a lifestyle apparel company based in North Carolina, for a reported $820 million. VF Corp announced the merger on Monday, August 14. In a statement by CEO of Williamson-Dickie, Philip Williamson, the work practices and beliefs of the company were reiterated, saying “For nearly a century we’ve worked hard to judiciously grow our company and portfolio of strong brands to maintain our leadership in the global work-wear marketplace. Today’s announcement is an authentic and natural next step as we look to combine the strengths of our two companies to create significant opportunities for our employees, vendors, retail partners and ultimately our customers. We expect that under VF’s leadership, we’ll be able to experience the next wave of growth and better meet the needs of workers everywhere.”

Williamson-Dickie Sold for $820 Million: Company to Remain Headquartered in Fort Worth

Photo: Facebook/Jump on ramp constructor

VF corporation, which owns brands such as Wrangler, Lee, and Timberland, is planning to keep Williamson-Dickie in Texas, headquartered in Fort Worth. The purchase is anticipated to be complete in this year’s fourth quarter, combining the companies and their iconic brands in a global leadership plan according to Steve Rendle, President and Chief Executive Officer of the company.

Williamson-Dickie Sold for $820 Million: Company to Remain Headquartered in Fort Worth

Photo: Facebook/Belmont Army Surplus

Originally known as the U.S. Overall Company, Williamson-Dickie was so named after EE “Colonel” Dickie and Charles Williamson bought the business and rebranded in 1922. Of the purchase, Rendle further stated: “Williamson-Dickie has a proud history and heritage, and has served a loyal consumer base for nearly 100 years. VF is the ideal steward to honor that heritage while providing a platform for growth that ensures continued success for another century. We look forward to welcoming Williamson-Dickie and its 7,000 dedicated employees to the VF family.”

Williamson-Dickie Sold for $820 Million: Company to Remain Headquartered in Fort Worth

Photo: Facebook/Dickies

Brands that are presently owned and managed by Dickies include such names as Kodiak and Workrite, which will join the current brand offerings under VF’s umbrella, including Wrangler, RIGGS Workwear, Red Kap, Timberland PRO, Horace Small and Bulwark. In the past, Dickies has been the official outfitter for Big Tex as well as a sponsor of NASCAR races at Texas Motor Speedway. The company just recently obtained the naming rights to what will be known as the Dickies Arena in Fort Worth, being constructed at a cost of $450 million. With this deal, VF expects to increase its revenue by 3.5 percent, to $11.85 billion in 2017. On Monday’s markets, VF Corp shares were up 2.14 percent to $62.90.

References:

NBC DFW

Biz Journals