ROSSI SOLD TO CHARTREUSE & MONT BLANC
SAM Magazine—Huntington Beach, Calif., Aug. 27, 2008—Quiksilver, Inc. will sell the Rossignol Group to Chartreuse & Mont Blanc, headed by Bruno Cercley, a former Rossignol CEO. Chartreuse & Mont Blanc is majority-owned by Macquarie Group, and supported by a non-voting minority interest by Jarden Corporation, owner of skiwear and ski equipment brands K2, Marker, Marmot and Volkl. The proposed transaction value is 100 million euros, nearly $147 million at the current exchange rate.The proposed transaction includes the sale of the Rossignol, Dynastar, Look, and Lange brands of winter sports equipment and apparel and is consistent with Quiksilver’s intention, announced in January 2008, to sell the Rossignol Group to reduce its exposure to the winter sports equipment manufacturing business. Quiksilver first acquired the Rossignol Group in July 2005 in a deal valued at $320 million.
The transaction is expected to close in fall 2008 following receipt of regulatory approval and completion of required employee consultation procedures.
