Quiksilver Gets Bid for Rossignol
Surfwear maker Quiksilver Inc., based in Huntington Beach, Calif., has a binding offer to buy its Rossignol division for $147 million.
The bid, announced Aug. 27, comes from Chartreuse & Mont Blanc, a group led by Bruno Cercley, Rossignol’s former chief executive. The group offered 100 million euros for the ski-equipment and clothing unit, which includes labels Lange, Look, Rossignol and Dynastar.
Quiksilver has been eager to shed the division, which never was as profitable as anticipated. Quiksilver bought Rossignol S.A. in 2005 for $320 million.
The California company said the transaction should close some time this fall, and it will use the money from the sale to repay existing debt.
“Once completed, we can fully concentrate our efforts on our core apparel and footwear brands: Quiksilver, Roxy and DC,” said Robert McKnight, chairman, chief executive and president of Quiksilver, in a statement. —Deborah Belgum
