Rossignol Skis Return to French Ownership

Quiksilver Inc., the Huntington, CA based sports apparel maker has agreed to sell its Rossignol business to Chartreuse & Mont Blanc, a group headed by Bruno Cercley - a former Rossignol Chief Executive. The price of the transaction is reported to be $147 million, far lower than the $560.8 million Quiksilver paid to acquire Rossignol three years ago.

Prior to taking over Rossignol, which also includes Dynastar, Look, and Lange the Quicksilver company brands (Quicksilver, Roxy, and DC) were focused on surfing, skateboarding, and snowboarding. Quicksilver is apparantly regrouping in those core companies.

Aside from being headed by the former Rossignol CEO, Chartreuse & Mont Blanc, majority owned by Macquarie Group, is no newcomer to the ski wear and ski equipment industry, since it is supported by Jarden Corporation's non-voting minority interest. Jarden is the owner of top ski and ski clothing brands K2, Marker, Marmot, and Volkl.

Quiksilver expects the sale to close in fall 2008 and will use the proceeds to pay down existing debt.

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