VF Outdoor Inc., a subsidiary of VF Corp., is in negotiations to acquire adventure travel vendor Eagle Creek Inc.
Founded in 1975, Eagle Creek, based in Vista, Calif., does about $30 million in sales, selling its products in 700 outdoor specialty and 300 luggage specialty stores in the U.S., in addition to distributors and licensees in Europe and other international markets. Eagle Creek claims to be the inventor of the adventure travel gear category and the first convertible backpack on wheels, as well as the nation’s leading supplier of adventure travel gear, including accessories, luggage, daypacks and other products.
Terms of the proposed deal were not available.
“Eagle Creek’s strong product pipeline, combined with VF Outdoor’s proven ability to execute international brand growth strategies, should enable the Eagle Creek brand to sustain high-single-digit sales growth over the next several years,” Dave Gatto, president of VF Outdoor, said in a statement. “We’re excited at the prospect of adding the industry’s authentic outdoor travel brand to our existing portfolio of outstanding brands.
“Growth in the travel category is outpacing growth of the total outdoor business, and we expect this to continue, given the desirability of travel among both Baby Boomers and Gen Y consumers,” he said.
VF Corp. is a multibrand manufacturer with sales projected to reach $7 billion this year. It has been in acquisition mode over the last decade. VF’s brands include Lee, Wrangler, Vanity Fair, Nautica, North Face and Kipling.
Eagle Creek will remain based in California, and founder and president Steve Barker will continue to manage the brand, reporting to Gatto. Executive vice president Ricky Schlesinger also will remain in his current role.