VF Corporation, owner of brands including Timberland, Vans and The North Face, has acquired performance-footwear brand Altra for an undisclosed amount.
Altra was launched in 2011 and is sold in 1,600 locations in 55 countries. It focuses on performance driven, fitness footwear, with a particular specialism in running gear.
VF Corp has acquired the business from previous owner Icon Health and Fitness, with the deal set to be completed in April.
Steve Rendle, chairman, president and chief executive of VF Corporation noted the brand would help VF to further tap into the booming performance market. “The acquisition of the Altra brand is another example of our efforts to reshape and evolve our portfolio of powerful brands to align with our enterprise value creation model,” he said.
“The active outdoor and performance sector is a large and attractive growth space. The addition of the Altra brand brings to VF a unique and differentiated technical footwear brand and a capability that, when applied across VF’s outdoor footwear, direct-to-consumer and international platforms, will serve as a catalyst for growth.”