Word: vf
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Dates: during 1980-1989
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When a company is successfully taken over, its headquarters town becomes especially vulnerable. Blue Bell, the manufacturer of Wrangler jeans, shut down its Greensboro, N.C., headquarters after the company was acquired by VF Corp. That put 300 people out of work and meant the end of Blue Bell's strong support of Greensboro's arts and civic activities. Thirty miles to the west, Winston-Salem was dealt a similar blow after R.J. Reynolds merged with Nabisco Brands in 1985. Last month RJR Nabisco announced it will move its corporate headquarters from Winston-Salem to Atlanta, taking along not only some...
Soon, however, Levi will be in a serious shoot-out for supremacy in jeans. Last week VF, the manufacturer of Lee jeans, which account for an estimated 14% of U.S. sales, announced a plan to merge with Blue Bell. Its Wrangler and Rustler brands hold some 10% of the market. The new company will thus command roughly the same market share as Levi...
Blue Bell had previously spurned takeover efforts by Allegheny Ludlum Industries, the Bass brothers of Texas, and Canada's Belzberg family. But VF's $775 million offer, it seems, was just too comfortable to leave in the fitting room...