Sponsors
Billabong ▼ -0.020 | PPR ▲ +0.65 | American Apparel ▲ +0.010 | The Buckle ▼ -0.47 | Columbia ▼ -0.10 | Deckers Outdoor ▲ +0.76 | Dicks ▼ -0.06 | Foot Locker ▲ +0.52 | Genesco ▲ +0.08 | Iconix Brand Group ▲ +0.09 | Jarden Corp ▼ -0.37 | Nordstrom ▼ 0.00 | Luxottica ▲ +0.75 | Nike ▼ -0.38 | Pacific Sunwear ▼ -0.03 | Skullcandy ▼ 0.00 | Sport Chalet - 0 | Urban Outfitters ▼ -0.18 | VF Corp ▲ +0.09 | Quiksilver ▼ -0.04 | Zumiez ▼ -0.07 | Macys ▼ -0.31 | Tillys ▲ +0.13 |
Ticker Sponsor
Readers Say
Keeps me in the loop
Keeps me in the loop

Being an Executive Edition member allows me to not miss a beat when it comes to the Industry business news. Definitely keeps me in the loop plus goes great with my morning joe.

- By Tony Perez, Surfer and Surfing magazines
The first thing I look at
The first thing I look at

I find Shop-Eat-Surf to be a very useful and informative site that I enjoy browsing daily. Shop-Eat-Surf is the first thing I look at every morning to keep up-to-date on the latest talk, events, and happenings in the industry. I must say I am a fan of Shop-Eat-Surf.

- By Bobby Abdel, Partner, Jack's Surfboards
Industry Insight

MOSS ADAMS: Webinar 12/2 on internal controls to increase the value of your business.
AGENDA: 12/30 deadline to pre-register for Jan. 5-6 Long Beach show.
CIT TRADE FINANCE: Middle-market retailers cautiously optimistic for holiday.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

Quiksilver has deal to sell Rossignol

By Tiffany Montgomery
August 27, 2008 6:27 AM

Quiksilver announced today that it is selling its Rossignol Group for 100 million Euros, or $147.3 million at current exchange rates, to a company headed by a former Rossignol CEO. The Jarden Corporation, which owns K2, is also involved.


Quiksilver bought Rossignol for approximately $320 million in 2005. The company said it will use the proceeds from the Rossignol sale to pay down debt.


Former Rossignol CEO Bruno Cercley of Chartreuse & Mont Blanc made the offer. Chartreuse & Montblanc is majority owned by the Macquarie Group of Australia and Jarden Corporation owns an interest in Chartreuse.


Bernard MarietteThe press release did not mention Bernard Mariette, left, the former Quiksilver corporate president who pushed for the Rossignol acquisition but left the company after the deal battered Quiksilver's financial results. When he resigned earlier this year, Mariette had said he would try to purchase Rossignol.


The Rossignol sale is expected to close in the fall and will allow Quiksilver to focus on its core brands, Quiksilver Chairman and CEO Bob McKnight said in a statement.


"This offer is a compelling transaction for Quiksilver and represents the culmination of a thorough sale process," he said. "Once completed, we can fully concentrate our efforts on our core apparel and footwear brands Quiksilver, Roxy and DC."


Articles You Might Have Missed