US: Deckers to buy Sanuk footwear brand
US footwear firm Deckers Outdoor Corporation is to buy the action sport and footwear brand Sanuk in a deal worth US$120m.
The purchase includes Sanuk USA LLC and C&C Partners, the exclusive licensee for the Sanuk brand in the US, Europe and Canada, and is due to be completed by the beginning of the third quarter.
"Sanuk is an ideal addition to the Deckers family of brands. It's a profitable, well-run business with a corporate culture similar to ours, and provides substantial growth opportunities, particularly within the action sports market where it has a large and loyal customer base of active outdoor enthusiasts," said Deckers president, CEO and chairman of the board, Angel Martinez.
Sanuk's headquarters will remain in Orange County, California and senior executives will continue to manage the brand.
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