VF Corporation, the US owner of brands including Wrangler, 7 For All Mankind and Lee, has completed the acquisition of premium denim brand Rock & Republic for $57m (£35.6m).
The company has completed the deal for the trademarks and related intellectual property for Rock & Republic but the deal does not include the denim brand’s business operations or retail stores. Further details of VF Corp’s plans for the licensing of the brand will be announced in the near future.
LA-based Rock & Republic filed for Chapter 11 voluntary bankruptcy in April last year in an attempt to find an investor to pay off a $15m (£9.7m) loan owed to denim player and creditor Richard Koral. New York investor Bluestar Alliance had been working on a deal to buy the company out of Chapter 11 but the deal fell through last year.
This is the first transaction for VF’s Licensed Brands group, which was formed in July 2009.