Fossil buys Skagen Designs - leatherbiz: Leading news site for the glo Leatherbiz

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Fossil buys Skagen Designs

03/04/2012
US leathergoods brand Fossil has announced that it has completed, effective April 2, 2012, the acquisition of US-based design company Skagen Designs and some of its international affiliates for $231.7 million in cash. The sum includes a working capital adjustment of approximately $6.7 million, and 150,000 shares of Fossil common stock.

In addition, the sellers may receive up to 100,000 additional shares of Fossil common stock if Fossil's net sales of Skagen-branded products exceed certain thresholds. Skagen Designs manufactures, markets and distributes watches, jewelry, sunglasses and clocks.
                            


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