Volcom Announces Acquisition of Japanese Distributor

mike lewis

September 02 2008
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Volcom is making moves in the Land of the Rising Sun. The company announced this morning that it has acquired its Japanese distributor for an unspecified amount and will bring operations in house in order to better coordinate efforts in this key territory.

This is not uncharted territory for the company, which purchased its independent European distributor to better control its operations in that region.

Here’s the press release:

COSTA MESA, Calif.–(BUSINESS WIRE)–Volcom, Inc. (NASDAQ:VLCM - News) today announced it has signed a definitive agreement to acquire its distributor in Japan, a key territory of the company’s international operations. Terms of the transaction were not disclosed.

“This acquisition is a testament to the strength of our brand in Japan after working with our distributor for more than 15 years,” said Richard Woolcott, chairman and chief executive officer of Volcom. “We are excited to culminate a longstanding relationship with an opportunity to work more closely with our accounts in this important territory, while retaining our Japan-based distribution team.

“Acquiring our Japanese distributor is part of Volcom’s international growth strategy, and we look forward to further enhancing our presence throughout Japan,” Woolcott added.

Senior management will discuss this transaction, as well as address other company matters during a presentation at the Southern California Investor Conference at 9:00 a.m. PDT on Wednesday, September 3. The presentation will be webcast live at www.volcom.com, in the investor relations section, and at www.californiastocks.com.

About Volcom, Inc.

Volcom is an innovative designer, marketer and distributor of premium quality young men’s and women’s clothing, accessories and related products. The Volcom brand, symbolized by The Stone , is athlete-driven, creative and forward thinking. Volcom has consistently followed its motto of “youth against establishment,” and the brand is inspired by the energy of youth culture. Volcom branded products are sold throughout the United States and internationally. Volcom’s news announcements and SEC filings are available through the company’s website at www.volcom.com.