Rossignol Sold To French Buyer

Rossignol Sold To French Buyer

Quiksilver, Inc. has announced that it has received a binding offer for the acquisition of 100% of ski and snowboard equipment and clothing maker Rossignol Group. The purchaser is Chartreuse & Mont Blanc, headed by Bruno Cercley, a former CEO of Rossignol. The move will return the company to French ownership. 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 purchase price is €100 million (approximately USD $147 million at the current exchange rate).

If the sale is consummated, it will include Rossignol, Dynastar, Look, and Lange brands. All of these companies have been on the block since Quiksilver’s announcement in January 2008 that the company intended to sell the Rossignol Group in an effort to reduce its exposure to the winter sports equipment manufacturing business. Quiksilver first acquired the Rossignol Group in July 2005.

The transaction is expected to close in Fall 2008 following receipt of regulatory approval and completion of required employee consultation procedures.

At this point, it is expected that Roxy will remain part of the Quiksilver group, however it is uncertain if Roxy will continue with the brand’s efforts to become a player the women’s segment of the winter sports market.

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