VF Corp. said Thursday it ended plans to buy intimate-apparel maker Maidenform Worldwide Inc.
VF, a clothing giant best known for Lee and Wrangler jeans, said the decision was mutual but didn’t disclose the reasons for ending the talks.
Last month, VF signed a letter of intent to buy Maidenform, of New York, the closely held maker of intimate apparel under the names Maidenform, Oscar de la Renta and Self Expression.
Financial terms were withheld.
VF’s intimate-apparel group includes brands such as Jantzen, Vanity Fair and Vassarette. Intimate apparel accounted for $650 million of the company’s $5.1 billion in revenue last year.
Last year, Maidenform had about $400 million in revenue. About 25 percent came from its publicly traded unit NCC Industries Inc., of which Maidenform owns 92 percent.
“Maidenform intends to resume immediately previous discussions concerning other opportunities,” said Chairwoman and chief executive Elizabeth Coleman.
