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Supreme, a streetwear brand with 12 stores and a cult following, is being sold to the parent company of Vans and Timberland in a deal that values the company at $2.1 billion.

Current investors Carlyle Group Inc. and Goode Partners LLC are selling their stakes to VF Corp., the apparel company said Monday.

Founded in 1994, Supreme is known for…

This post first appeared on wsj.com

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