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Quiksilver, Inc. (ZQK)

- NYSE
  • 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.
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Company Description
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.