Deckers buys surf sandal brand for $120M | Sports

Deckers Outdoor Corp. ???? M?? 19 th?t ?t tact t? b?? sandal code Sanuk f?r $120 million ?n ?n ???-cash deal.

Goleta-based Ugg foot association Deckers ?? th? second-??r???t publicly traded organisation ?n th? Tri-Counties. Th? Sanuk acquisition, approaching t? b? finalized b? th? third quarter, w??? ??k??? benefaction a tiny boost t? ?t? 2011 profits, Deckers ????. It tact t? financial th? understanding w?th existent money ?n hand.

In further t? th? $120 million up-front payment, th? understanding w???? embody additional ?participation payments,? formed ?n performance, over th? subsequent 5 years, Deckers ????.

Sanuk, wh??h specializes ?n roller sandals, w??? sojourn headquartered ?n Orange County, ?n? comparison government w??? continue t? conduct th? brand, wh??h generated some-more th?n $43 million ?n sales final year.

Deckers CEO Angel Martinez praised Sanuk ?? a ?profitable, well-r?n business w?th a corporate enlightenment identical t? ours.? Th? understanding presents course opportunities ?n th? movement sports market, h? ????, ?n? won?t overlie most w?th Deckers? existent portfolio, wh??h includes th? hugely good ????? Ugg sheepskin boots ?n? Teva sandals.

Sanuk w?? founded ?n 1997 b? Jeff Kelley, whose initial product w?? a sandal m??? ?f immature indoor-outdoor carpet. Today, th? association sells ?t? products online ?n? by some-more th?n 1,700 sell stores ?n 40 countries.

Shares ?f Deckers w?r? adult 0.2 percent t? $90.41 ?n ?ft?r-hours trading.

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Source: http://www.asbigo.com/sports/deckers-buys-surf-sandal-brand-for-120m/

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