Fossil Inc. said this morning that it has completed its acquisition of Skagen Designs Inc. and some of its international affiliates.
First unveiled in January, the deal, which closed for $231.7 million in cash, gives Skagen 150,000 shares of Fossil stock, as well as the opportunity to receive another 100,000 shares, if it reaches certain revenue goals.
Based in Reno, Nev., Skagen was founded by the Danish husband-and-wife team of Charlotte and Henrik Jorst in 1989. Skagen told WWD earlier this year that it generates roughly $130 million in sales.
In 2011, Fossil, which operates 390 doors, saw revenue increase 26.4 percent to $2.57 billion.