Quiksilver to Sell Rossignol Group

Quiksilver to Sell Rossignol Group
August 28, 2008

Huntington Beach, Calif.-based Quiksilver Inc. announced that it has received a binding offer for the acquisition of 100 percent of the Rossignol Group. The offer was made by Chartreuse & Mont Blanc, headed by Bruno Cercley, a former CEO of Rossignol. Chartreuse & Mont Blanc is majority-owned by Macquarie Group and supported by a non-voting minority interest by Jarden Corp. The proposed transaction value is about $147 million. It is subject to a financing condition and customary working capital adjustment. Quiksilver plans to use the net proceeds from the contemplated sale to repay existing debt. The proposed transaction includes the sale of the Rossignol, Dynastar, Look and Lange brands of winter sports equipment and apparel. This past January, Quiksilver announced its intentions to sell the Rossignol Group to reduce its exposure to the winter sports equipment manufacturing business. The transaction is expected to close in fall 2008.

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