Oct. 28, 2013, 5:52 PM
- Quiksilver (ZQK -2%) sells its snowboarding subsidiary, Mervin Manufacturing, to Altamont Capital Partners for $51.5M. (8-K) The subsidiary had TTM revenue of $32M.
- The divestment is part of Quiksilver's plan to divest non-core operations. The company intends to use proceeds to reduce credit facilities and make investments in emerging markets. (PR)
- Mervin will continue to manufacture snowboards under the Roxy brand through a separate licensing agreement.
ZQK vs. ETF Alternatives
Quiksilver Inc designs, develops and distributes apparel, footwear, accessories and related products, catering to the casual, youth lifestyle associated with the sports of surfing, skateboarding and snowboarding.
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