gapertimmy Posted June 17, 2004 Share Posted June 17, 2004 from forbes.com K2 Inc. to Buy Volkl, Marker and Marmot 06.16.2004, 07:17 AM Consumer products company K2 Inc. reported Wednesday that it signed three definitive agreements to purchase Volkl Sports Holding AG and Marker Group for about $124 million in stock, cash and assumed debt, as well as Marmot Mountain Ltd. for about $84 million in stock, cash and debt. K2 plans to close the acquisitions by mid-July, and expects the companies to add to earnings this year. The company will finance the purchases through a combination of debt and equity. "The Volkl and Marker acquisitions are very significant in that they continue our strategy of building a truly global winter products platform for K2," said Richard Heckmann, K2's chairman and chief executive officer. Volkl, established in Germany in 1889, makes premium skis with an average retail price point above $500. K2 intends to maintain Volkl's automated manufacturing facility in Straubing, Germany. Marker, founded in 1952, is a ski bindings manufacturer, with an estimated market share of more than 40 percent in the United States. Marker has partnerships with Volkl and K2 to sell integrated ski and binding systems. In the past season, the company said a significant percentage of K2 skis were sold as integrated systems with Marker bindings. On a combined basis, Volkl and Marker generated total sales of $171.9 million in the fiscal year ended March 31, 2004. Marmot, founded in 1971, makes technical outdoor apparel and equipment, including performance jackets, expedition garments, fleeces, skiwear outerwear and accessories, gloves, and tents, packs and sleeping bags. Retail price points for Marmot's products range from $80 to $400, and sales for 2004 are expected to be $74 million. Marmot currently produces skiwear under a license with Marker Group. Quote Link to comment Share on other sites More sharing options...
sobo Posted June 17, 2004 Share Posted June 17, 2004 Hey, GT, I think your favorite **ignored user** beat you to the punch on this one... See here... Hey, did you get my message yesterday about my login problems from home? There's some Richard Simmons pr0n in it for you if you can fix it... Quote Link to comment Share on other sites More sharing options...
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