The blockbuster deal structured as a merger, which will pay $43 apiece for TBL shares or total consideration of about $2 billion, will enable VFC to surpass its objective of generating 50% of revenues from its Outdoor/Action Sports Coalition on a pro forma basis. But immediately, the North Face and Vans’ parent raises the bar by vowing to generate at least 60% of its top line from Outdoor/Action Sports brands by 2015.

That objective will be met by generating another $900 million in annual revenues from Timberland over five years, including $600 million from footwear and another $300 million from apparel/accessories. ... Log in to view full article.