Timberland, an apparel producer that is considered to be a leader of sustainability in its industry, was recently purchased for $2 billion, reports SustainableBusiness.com.
The company's buyer was VF Corporation. According to Bloomberg, this 112-year-old entity is the world's largest maker of apparel and includes brands such as Wrangler, North Face, Jansport and Eastpak.
In this year's sustainability rankings compiled by the nonprofit group Climate Counts, Timberland came in second place out of 150 companies in recognition of its efforts to promote environmentally friendly practices.
Some of the company's most important sustainability benchmarks include the creation of recyclable boots and its stated goal to reduce facility and travel emissions by 50 percent.
"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 Jeffrey Swartz, the president and CEO of Timberland. "VF is known for its ability to acquire and grow authentic outdoor brands, while protecting a brand's unique culture and DNA."