French PPR Group Buys American Skateboard Clothing Company

France PPR

On Friday, it said that after the goodwill open purchase that was completed Thursday night, the group already owned.

72.3%, and is confident that it will increase to 91.6%, hoping to eventually acquire the remaining shares of the US skateboard company.

The group said in a statement that a total of 14 million 680 thousand shares were acquired, accounting for 72.3% of the company's total shares, "which makes PPR the controlling shareholder of Volcom".

PPR

At the same time, a number of "agreed commitments in accordance with the delivery guarantee procedures" were received, which accounted for about 4 million 714 thousand shares, and the shares that had already been involved in the acquisition accounted for about 91.6% of the capital.

PPR will launch a new acquisition phase on Friday to acquire

The remaining ordinary shares continued until 17:30 on June 22, 2011 local time in New York, "unless otherwise extended", the price is the same as the open takeover.

The purchase price offered by PPR is 24.5 euros per share, which is a premium of 37% based on the average stock price of Volcom in the past three months.

The parity has increased the market value of this US company to 516 million 100 thousand dollars, including debt.

Volcom is the brand of skateboards, skiing and skiing garments and accessories.

The company is listed on NASDAQ and has entered 40 countries in the world. Its turnover in 2010 reached US $323 million and its profit was $22 million.

The acquisition was ordered to

Its PPR group builds sports and lifestyle businesses on the basis of Puma sporting goods company.

The luxury business (BottegaVeneta, Yves Saint Laurent, Alexander McCune, Paris and Boucheron) echoed each other.

PPR has also been phasing out of the retail industry in pition. The group recently sold its Conforama furniture chain store, while Redcats (mail order) and Fnac (book and digital) chain store are waiting for the price to sell.