Stratham-Based Timberland to be Bought Out

Timberland, one of the largest employers in the Seacoast, will be bought out by a North Carolina company, according to an announcement today.

Greensboro, N.C.-based VF, which owns The North Face and several other brands, said in a press release it will buy Stratham-based Timberland for more than $2 billion.

The boot-maker employs roughly 750 people at its Stratham headquarters.

It's unclear how those employees will be affected. VF said it will "substantially increase" Timberland's profitability by instituting "operating disciplines," supply measures to reduce costs, and expense management.

"Timberland is proud of its rich heritage, its track record of success and its reputation as a responsible and environmentally-conscious global citizen, all of which will be preserved and enhanced by becoming part of the VF family of brands," said Timberland president Jeffrey Swartz. "VF is known for its ability to acquire and grow authentic outdoor brands, while protecting a brand's unique culture and DNA."

Here's a link to the press release: http://bit.ly/kbMw90.