Scott Mavis on the brand’s return, updated look, and earth friendly focus.
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Jarden Corporation, parent company of K2 and other action sports brands, announced it has closed on its offering of $300 million aggregate principal amount of 8% Senior Notes due 2016.
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Mike Rees, former CFO of Reef and VF’s International Outdoor division, is joining the Burton team.
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K2 parent company Jarden Corp. announced today it will offer $250 million in notes and use proceeds towards its senior credit facility term loans. The senior unsecured notes will be guaranteed by some of Jarden’s domestic subsidiaries and mature in 2016.
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At the same time, Outdoor Solutions outsold all of Jarden’s other divisions combined.
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Total sales for 2008 were up 46.1% to $2.5 billion and operating earnings jumped 293% to $172 million, primarily due to a boost in revenues from the company’s acquisition of K2.
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Zoot Sports, which makes “multisport” (pronounced tri-ath-a-lon) shoes, apparel, and wetsuits, announced today that it had been purchased by K2 Sports for an undisclosed amount.
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Quiksilver announced today that Chartreuse & Mont Blanc, a company Jarden controls a minority interest in, will buy Rossignol for 100 million Euro.
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