Carlsbad, Calif. (Ski Press)-K2 Inc. today announced the acquisition of Volkl Sports, Marker Group and Marmot Mountain Ltd.
The acquisitions of Volkl Sports Holding AG, The Marker Group and Marmot Mountain Ltd are expected to be completed by mid-July and should begin adding to earnings this year, K2 said.
“The ski business is increasingly driven by a few global players with integrated ski and binding systems, and this transaction will solidify K2’s leading position on a global basis. K2, Völkl and Marker are leading authentic brands and together they will constitute the most unique and powerful winter products platform in the industry today,” said Richard Heckmann, K2’s chairman and chief executive officer. “The addition of Völkl and Marker’s strong European management team gives us a unique opportunity to combine our significant European operations for the benefit of both customers and employees. Völkl’s outstanding heritage of German engineering excellence will be a strong addition to our worldwide product offering in the ski industry as will their superb manufacturing facilities.”
K2 Inc. said it would acquire the three winter sports and outdoor apparel companies for about $208 million plus the assumption of debt to boost its presence in the ski and winter sports market.
The company said the purchase of Volkl and Marker is valued at about $124 million plus the assumption of seasonal working capital debt. It said the Marmot purchase will cost about $84 million, plus debt.
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