Quiksilver Appoints JP Morgan Over Sale Of Rossignol

biz_editor

• February 04 2008
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Quiksilver, has appointed investment bank, JPMorgan, to initiate a sale process for its ski and snowboard brand, Rossignol. Quiksilver acquired Rossignol, in 2005, but the business has consistently underperformed ever since. The company wrote down the carrying value of Rossignol by US$166 million ($192 million) in the financial year ended October 31, 2007. Rossignol, along with Quiksilver’s three other winter sports brands, represents 16 percent of its total revenue.

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