Advanced Search

Fossil to Acquire Skagen Designs

Deal Involves Cash & Stock

Jan 11, 2012 4:22 PM   By Ricci Dipshan
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Fossil Inc., designer and manufacturer of clothing, jewelry, watches, handbags, and other accessories, agreed to purchase Reno, Nevada-based Skagen Designs Ltd., which is maker of watches, jewelry, sunglasses, and clocks. Fossil estimated the value of the deal at about $236.9 million in cash and stock and will also acquire Skagen’s international affiliates, which operate regional offices in Denmark, Hong Kong, Germany, the U.K. and Canada.

Fossil will pay $225 million in cash, with the balance in 150,000 shares.  Additional payment of 100,000 Fossil shares will be contingent upon meeting sales milestones. Fossil’s customers include Neiman Marcus, Nordstrom, Target and Walmart and it holds licensing agreements with Michael Kors, Marc Jacobs and Armani.
Tags: Fossil Inc., Neiman Marcus, Nordstrom,, Ricci Dipshan, Skagen Designs, target, Wal-Mart
Similar Articles
De Grisogono 150High-End Slump Forces Layoffs at De Grisogono
Apr 11, 2018
Swiss-based luxury jeweler De Grisogono plans to cut up to 41 positions after a challenging high-end market resulted in poor sales.
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.