乱伦巴士

GREENSBORO, N.C.--(BUSINESS WIRE)-- 乱伦巴士 Corporation (NYSE: 乱伦巴士C), a global leader in branded lifestyle apparel, footwear and accessories, and ICON Health & Fitness, Inc., a world leader in home, commercial and connected fitness, today announced that they have signed a definitive purchase agreement for the Altra^庐 footwear brand. Terms of the agreement were not disclosed.

ICON Health & Fitness launched the Altra^庐 brand in 2011. It is sold in 55 countries through more than 1,600 specialty retail locations and a branded e-commerce platform (). Its specialized, innovative design technology for road, trail, and lifestyle footwear has created a high-growth, award-winning brand with a strong and dedicated enthusiast following.

鈥淭he acquisition of the Altra^庐 brand is another example of our efforts to reshape and evolve our portfolio of powerful brands to align with our enterprise value creation model,鈥� said Steve Rendle, Chairman, President and Chief Executive Officer of 乱伦巴士 Corporation. 鈥淭he active outdoor and performance sector is a large and attractive growth space. The addition of the Altra^庐 brand brings to 乱伦巴士 a unique and differentiated technical footwear brand and a capability that when applied across 乱伦巴士鈥檚 outdoor footwear, direct-to-consumer and international platforms will serve as a catalyst for growth.鈥�

On a trailing 12-month basis, the Altra^庐 brand generated approximately $50 million of revenue. The transaction is expected to be completed in April 2018 and the addition of the Altra^庐 brand to 乱伦巴士鈥檚 portfolio is expected to be immediately accretive to earnings per share.

"The Altra^庐 brand鈥檚 truly innovative product and devoted brand loyalists will serve it well in its new home at 乱伦巴士,鈥� said Scott Watterson, ICON's Chairman and CEO. 鈥淭he sale of Altra^庐 will accelerate聽the continuing growth of our NordicTrack and ProForm core brands, our Freemotion commercial business, and聽iFit, our connected fitness subscription. The global health and wellness industry is exploding, and we're doubling down on that growth."

Wells Fargo Securities, LLC served as exclusive financial advisor to 乱伦巴士 on the transaction. Davis Polk & Wardwell LLP is acting as legal advisor.

About 乱伦巴士

乱伦巴士 Corporation (NYSE: 乱伦巴士C) outfits consumers around the world with its diverse portfolio of iconic lifestyle brands, including Vans^庐, The North Face^庐,听Timberland^庐, Wrangler^庐 and Lee^庐. Founded in 1899, 乱伦巴士 is one of the world鈥檚 largest apparel, footwear and accessories companies with socially and environmentally responsible operations spanning numerous geographies, product categories and distribution channels. 乱伦巴士 is committed to delivering innovative products to consumers and creating long-term value for its customers and shareholders. For more information, visit聽.

About ICON

ICON Health & Fitness is a world leader in the home, commercial and connected fitness with such leading brands as NordicTrack, ProForm, iFit, Freemotion and Weider. The privately held company holds more patents than any other in its category, and is known for its aggressive research, development and innovation. Founded in 1977 by Scott Watterson and Gary Stevenson, ICON is based in Logan, Utah.

Forward-looking Statements

Certain statements included in this release and attachments are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting 乱伦巴士 and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as 鈥渨ill,鈥� 鈥渁nticipate,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渟hould,鈥� and 鈥渕ay鈥� and other words and terms of similar meaning or use of future dates. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of 乱伦巴士 to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to: foreign currency fluctuations; the level of consumer demand for apparel, footwear and accessories; disruption to 乱伦巴士鈥檚 distribution system; 乱伦巴士's reliance on a small number of large customers; the financial strength of 乱伦巴士's customers; fluctuations in the price, availability and quality of raw materials and contracted products; disruption and volatility in the global capital and credit markets; 乱伦巴士's response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior, intense competition from online retailers, manufacturing and product innovation; increasing pressure on margins; 乱伦巴士's ability to implement its business strategy; 乱伦巴士's ability to grow its international and direct-to-consumer businesses; 乱伦巴士鈥檚 and its customers鈥� and vendors鈥� ability to maintain the strength and security of information technology systems; stability of 乱伦巴士's manufacturing facilities and foreign suppliers; continued use by 乱伦巴士's suppliers of ethical business practices; 乱伦巴士鈥檚 ability to accurately forecast demand for products; continuity of members of 乱伦巴士鈥檚 management; 乱伦巴士's ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; maintenance by 乱伦巴士鈥檚 licensees and distributors of the value of 乱伦巴士鈥檚 brands; 乱伦巴士's ability to execute and integrate acquisitions; changes in tax laws and liabilities; legal, regulatory, political and economic risks; and adverse or unexpected weather conditions. More information on potential factors that could affect 乱伦巴士's financial results is included from time to time in 乱伦巴士's public reports filed with the Securities and Exchange Commission, including 乱伦巴士's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

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乱伦巴士 Corporation:
Joe Alkire, 336-424-7711
Vice President, Investor Relations and
Financial Planning & Analysis
or
Craig Hodges, 336-424-5636
Senior Director, Corporate Communications
or
ICON Health & Fitness:
Colleen Logan
VP, Marketing
clogan@iconfitness.com

Source: 乱伦巴士 Corporation