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V.F. completes purchase of footwear brand Altra

V.F. Corp. said June 1 that it completed its acquisition of the Altra footwear brand from Utah-based fitness equipment maker ICON Health & Fitness Inc.

Financial terms of the deal were not disclosed.

The retailer, which owns the Vans and The North Face brands, said Altra's addition to its portfolio is expected to be immediately accretive to the company's earnings per share.

The development follows the company's entry into a definitive purchase agreement with ICON in March.