|6 Months Ended
Jul. 02, 2011
Note C — Acquisitions
On March 30, 2011, VF acquired the trademarks and related intellectual property of Rock and Republic Enterprises, Inc. VF has accounted for this transaction as an asset acquisition and recorded the purchase price as an indefinite-lived intangible asset. The total purchase price is expected to be approximately $57.0 million plus expenses. The purchase price will be finalized after all contingencies have been resolved, which should occur by the end of 2011. Rock and Republic® jeanswear and related products will be offered through an exclusive licensing and wholesale distribution arrangement with Kohl's Department Stores. Operating results will be reported as part of the Jeanswear Coalition.
On June 12, 2011, VF entered into a definitive merger agreement to acquire 100% of the outstanding shares of The Timberland Company for approximately $2.3 billion net of cash acquired. The acquisition is expected to close in the third quarter of 2011, subject to satisfaction of customary closing conditions.
Schedule of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This schedule does not include leveraged buyouts.
Reference 1: http://www.xbrl.org/2003/role/presentationRef