Scotch & Soda owner to acquire Dickies in $600 million deal

Bluestar Alliance, the owner of Scotch & Soda and Palm Angels, has entered a definitive agreement to acquire American heritage brand Dickies for $600 million in cash.

Bluestar Alliance will acquire Dickies from VF Corporation, known for its portfolio of global outdoor, active, and workwear brands, including The North Face, Vans, and Timberland.

The transaction is expected to close by the end of 2025, subject to customary closing conditions and regulatory approvals.

Founded in 1922, Dickies operates at the intersection of workwear and streetwear, with distribution in 55 countries.

The US-based business is recognised for its focus on durability and functionality, while maintaining a presence in both professional and lifestyle markets. Its products have found relevance across various age groups, regions, and subcultures.

Joseph Gabbay, CEO at Bluestar, said: "Since its launch, Dickies has provided hard-wearing, long-lasting and comfortable clothes, cementing its status as a storied brand in performance workwear.

"We have followed the brand for many years and have a deep appreciation for its history and legacy, which VF Corp has successfully begun to rebuild over the past few years. We are committed to supporting its growth by leveraging our consumer insights and operational excellence to unlock its full value for all stakeholders."

Bracken Darrell, President and CEO at VF Corporation, said: "Dickies is an iconic American brand with a bright future, and I am confident that under Bluestar Alliance’s ownership, it will continue to improve and realise its significant growth potential."

Earlier this year, VF Corporation reported financial results for the first quarter of FY26, ending 28 June 2025. Revenue came in at $1.8 billion, flat compared to the prior year.

Net debt, excluding lease liabilities, reduced by $1.4 billion, or 27% year-over-year. The proceeds from this latest transaction are expected to further reduce the company’s net debt levels.

Darrell added: "As I’ve said before, we continuously evaluate our portfolio and this transaction will enable us to bring our net debt level down and will be accretive to our growth on a pro-forma basis.

"I want to thank the entire Dickies team for their strong commitment to transforming the brand."