V.F. Corp. to buy Nutmeg to expand into sports apparel

December 14, 1993|By New York Times News Service

V. F. Corp., the Wyomissing, Pa.-based leader of the domestic blue jeans market, made another push yesterday into the fast-growing licensed sports apparel business by agreeing to buy Nutmeg Industries for $325.5 million in cash.

The acquisition of Tampa Bay, Fla.-based Nutmeg, which makes and sells adult-sized T-shirts and sweat shirts with sports team logos, follows V. F.'s recent agreement to acquire H. H. Cutler, a licensed maker of sports apparel for youth.

That deal, for $160 million in cash, is expected to close Jan. 3. V. F.'s tender offer for Nutmeg's 18.6 million shares for $17.50 each is expected to close in mid-January.

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