Adventure

Timberland Sells to Gear Giant

North Face parent to buy boot maker

Timberland, the New Hampshire-based, family-owned boot and apparel company, will likely accept a $2 billion buyout offer from the VF Corp, owner of the North Face, Wrangler, Reef, and other retail brands. Timberland is best known for its ubiquitous tan workboots but has recently emerged as a leader in sustainability. In 2009, the company released a recyclable boot and has pledged to lower its emissions by 50 percent. VF Corp is paying a 43 percent premium on Timberland's Friday closing stock price and will finance the deal largely in cash. The Swartz family controls 73.5 percent of the company and has until the end of July to entertain other offers, which could come from Nike or another footwear giant. Headquarters will remain in Stratham, New Hampshire.

Read more at The Boston Globe

Our mission to inspire readers to get outside has never been more critical. In recent years, Outside Online has reported on groundbreaking research linking time in nature to improved mental and physical health, and we’ve kept you informed about the unprecedented threats to America’s public lands. Our rigorous coverage helps spark important debates about wellness and travel and adventure, and it provides readers an accessible gateway to new outdoor passions. Time outside is essential—and we can help you make the most of it. Making a financial contribution to Outside Online only takes a few minutes and will ensure we can continue supplying the trailblazing, informative journalism that readers like you depend on. We hope you’ll support us. Thank you.
Contribute to Outside
Filed To: News
More Adventure