French press reports Rossignol may be for sale

French company Skis Rossignol (SKIR.PA) saw its stock jump 12.66 percent in the first trading session of the New Year following an interview published Monday in the Les Echos newspaper with Bernard Mariette, the president of U.S.-based Quiksilver. Mariette confirmed in the interview that Quiksilver, a manufacturer of surf-inspired activewear, had approached Rossignol with the idea of a takeover.
Author:
Updated:
Original:

French company Skis Rossignol (SKIR.PA) saw its stock jump 12.66 percent in the first trading session of the New Year following an interview published Monday in the Les Echos newspaper with Bernard Mariette, the president of U.S.-based Quiksilver. Mariette confirmed in the interview that Quiksilver, a manufacturer of surf-inspired activewear, had approached Rossignol with the idea of a takeover.

Rossignol has been the subject of takeover speculation since November when it reported its full-year profit outlook would be much lower than anticipated due to the weakness of the dollar. Analysts have placed the stock value at around 19 euro, which if true, would place the overall company valuation at around 235 euro or just over USD $320 million -- a bit on the high side other analysts told SNEWS®.

Talks regarding acquisition have been primarily focused around the main shareholder, the founding family Boix-Vives, which controls 45 percent of the capital and 63 percent of the voting rights.

Laurent Boix Vives, Rossignol supervisory board chairman, was quoted in the Les Echos story as saying that the company has not yet responded to a letter of intent from Quiksilver.

SNEWS® View: Skis Rossignol, which also manufactures golf (via a subsidiary with reportedly strong growth potential), inline skate (struggling) and tennis equipment (weak), in addition to its snowsports lines, might be attracting interest from other companies as well, though certainly none as public as the Quiksilver offer. On the short list from analysts are Nike, which makes some sense from a distribution standpoint, but there's little for Nike to gain other than the snowsports angle, and K2. K2 would be our most logical pick since the company has synergies that mesh nicely with Rossignol, and the acquisition would not only make K2 a global ski player on a monumental scale, it would also further open Europe, and Richard Heckman has made no secret of the fact he wants to see business expansion in Europe.

Related

Outdoor financials: Quiksilver closing the gap on Rossignol takeover, plus NRF reports March retail sales, VF Corp.

Quiksilver closing the gap on Rossignol takeoverQuiksilver (NYSE: ZQK) said it closed the deal to buy nearly half the shares of Skis Rossignol SA from its majority stockholder -- the Boix-Vives family -- the first of two steps in the planned buyout of the French ski manufacturer. ...read more

Outdoor financials: Quiksilver president resigns, may attempt Rossignol buyout, plus Jarden, Kellwood, Wolverine, Dick's, GSI Commerce

Quiksilver president resigns, may attempt Rossignol buyout Bernard Mariette has resigned as president of Quiksilver (NYSE: ZQK) to pursue other interests and is reportedly looking to buy the company's Rossignol unit. Chairman and CEO Robert McKnight will take the president title. ...read more

Outdoor financials: Quiksilver completes sale of Rossignol ski unit to Chartreuse & Mont Blanc, plus Crocs, Gander Mountain, LaCrosse

Quiksilver completes sale of Rossignol ski unit to Chartreuse & Mont Blanc Quiksilver (NYSE: ZQK) said the sale of its Rossignol ski gear business to Chartreuse & Mont Blanc has closed for EUR 30 million (USD $37.5 million) in cash and 10 million euro note (USD $12.5 million). ...read more

Rossignol_logo2.jpg

Did you hear?...Layoffs at Rossignol Group underscore challenges as company restructures

In an April 23 news release (click here to read), the Rossignol Group confirmed previous announcements in late March that it would be laying off 30 percent of its workforce globally. In total, this adds up to approximately 450 people now out of work. SNEWS® requested information ...read more

Outdoor financials: Deckers to restate financials, plus Quiksilver/Rossignol, Dick's, Jarden/Coleman, Columbia Sportswear, GSI Commerce, Bausch & Lomb, Wellman

Deckers to restate financials Deckers Outdoor (Nasdaq: DECK) will pay up to an estimated $9.1 million and restate financial statements due to underpayment of some tax payments related to a Chinese subsidiary, according to a filing with the Securities and Exchange Commission. The ...read more

Outdoor financials: Quiksilver to buy Rossignol Group, plus Johnson Outdoors, Backcountry.com, Sears/Lands' End

Quiksilver to buy Rossignol GroupAfter months of speculation, Quiksilver (NYSE: ZQK) took the plunge and is buying Rossignol Group SA (SKIR.PA on Eurolist by Euronext), which has a portfolio that includes Rossignol, Dynastar, Lange and Look in winter sports, and Cleveland Golf. ...read more

Outdoor financials: Columbia Sportswear reports rises in Q4, FY06 earnings, plus Johnson Outdoors, VF, Jarden, Quiksilver/Rossignol, Gander Mountain

Columbia Sportswear reports rises in Q4, FY06 earningsFourth-quarter profit for Columbia Sportswear (Nasdaq: COLM), parent of Mountain Hardwear and Montrail, rose 4.9 percent on an increase in sportswear and outerwear sales. The company earned $38.4 million, or $1.06 per share, ...read more

Outdoor financials: Quiksilver to sell Rossignol unit for $147.6 million, plus Gander Mountain, LaCrosse

Quiksilver to sell Rossignol unit for $147.6 million Quiksilver (NYSE: ZQK) said it has received a binding offer of $147.6 million for the acquisition of 100 percent of the Rossignol Group from Chartreuse & Mont Blanc. The offer is comprised of 75 percent cash and 25 percent ...read more

Outdoor financials: Timberland 3Q profit up, revenue down, plus Quiksilver lowers sale price of Rossignol, Jarden, Cabela's, Big 5, Outdoor Channel, Liberty/Backcountry.com

Timberland 3Q profit up, revenue down Timberland (NYSE: TBL) said its profit rose more than 18 percent in the third quarter but revenue dropped as North American consumers continued to pull back on their spending. Timberland said net income rose to $30.7 million, or $0.52 per ...read more