Quiksilver Acquires Snowboard Maker
COSTA MESA — Quiksilver Inc. acquired Mervin Manufacturing Inc., a Washington manufacturer of snowboards and snowboard bindings, for about $4.4 million. Quiksilver also will assume about $3 million in bank debt.
Quiksilver said it paid $1.8 million upon closing of the transaction Wednesday, and will pay the balance as Mervin’s operating plans are met for the rest of the year and through fiscal 2000.
The sportswear and sports products company said Mervin has offices and manufacturing facilities in Seattle and Port Angeles, Wash., and about $10 million in annual sales.
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