PARIS — Shares in Rossignol spiked 5.7 percent on Monday to close at 16.28 euros, or $21.98 at current exchange, on the Paris Bourse amid speculation in Europe that Quiksilver could acquire a controlling stake in the French skiwear firm.
Quiksilver is said to be in talks to buy the 45 percent stake held by the founding Boix-Vives family, which controls 63 percent of voting rights, although Rossignol issued a statement Monday saying that no deal has been signed, and that the Boix-Vives family remains “particularly” attached to the company and its development.
Rossignol sales were $563.6 million at an average exchange rate for the year ended March 2004.
Quiksilver sources confirmed that the company has been in talks with Rossignol since last summer, but it would not verify whether a deal remained on the table. The $1.27 billion Huntington Beach, Calif., company, whose diversified products range from boardshorts to outerwear, has identified acquisitions as an area of global expansion in the coming five years. Analysts have recently identified Rossignol as an attractive acquisitions target, given the French firm’s strength in winter sports.
Quiksilver acquired skate and street footwear brand DC Shoes in March 2004, and in 2002 the company purchased Beach Street Inc., operator of 26 Quiksilver outlet stores, and its Asia-Pacific license.
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