This morning, VF Corporation announced their purchase of lifestyle brand The Timberland Co. for $43 per share, or $2 billion. Parent company to brands such as VANS, The North Face, Jansport, and more, VF Corp. plans to increase the appeal of Timberland to an international consumer base. It also wants to lower Timberland's costs by leveraging its resources. The Timberland executive team, chairman, and CEO will remain on board during the change. You can read the full press release from VF here.

[CNN]