what did quiksilver sell for the rossignol section 100-million-euro?”
ocbj.com documents the deal struck by Quicksilver to sell Rossignol: Posted date: 8/27/2008 Quiksilver Selling Rossignol for $147M By Michael Lyster Orange County Business Journal Staff Huntington Beach-based Quiksilver Inc. has struck a deal to sell its Rossignol unit for $147 million to a former chief executive of the struggling French ski maker. Led by former Rossignol chief executive Bruno Cercley, Chartreuse & Mont Blanc plans to buy the business in a deal that’s 75% cash and 25% debt. Chartreuse & Mont Blanc is majority owned by Australia’s Macquarie Group Ltd. and includes minority investor Jarden Corp., a Rye, N.Y., maker of outdoor products. The deal is expected to close in the fall. Quiksilver, a maker of clothes inspired by surfing, skateboarding and snowboarding, bought Rossignol for $560 million in 2005. Read more at the link below.
NEW YORK, Aug 27 (Reuters) – Sports apparel maker Quiksilver Inc (ZQK.N) said on Wednesday it agreed to sell its Rossignol business to a group led by Rossignol’s former CEO for 100 million euros ($147 million), sending its shares up as much as 15 percent. Chartreuse & Mont Blanc, headed by former Rossignol Chief Executive Bruno Cercley, bid on the unit, which includes the Rossignol, Dynastar, Look, and Lange brands of winter sports equipment and apparel. Quiksilver paid $560.8 million for Rossignol three years ago, but Wall Street remained skeptical the lower-margin hard goods brand would be a good fit with the apparel and footwear Quiksilver was known for. The Huntington Beach, California, company put the unit up for sale this year after a bad ski season and weakening economy hurt sales, as merchants sold through existing inventory instead of ordering new merchandise. The sale allows the company to “rid itself of a negative margin business” and focus on its core apparel and footwear l
