27 May. 2008
K-SWISS ACQUIRES PALLADIUM SASK-Swiss Inc., the American performance sport brand, has announced plans to acquire a majority stake in Palladium SAS from France. The company will close a deal worth approximately 5.3 million euros on July 1 of this year that will see 57% of Palladium SAS’ equity go to K-Swiss; K-Swiss has agreed to buy out the remaining 43% of Palladium’s holdings by December 31, 2012.
“The acquisition of Palladium is a strong strategic fit for us,” said Steven Nichols, chairman of the board and president. “This growth investment is marginally accretive and consistent with our stated goal of allocating capital to opportunities that offer long-term growth.”
K-Swiss (kswiss.com) had already acquired the Palladium trademarks for the US and Canada for $6 million in cash. Meantime, Palladium is said to be currently profitable, with company revenues projected to be approximately 15 million euros for the fiscal year ending September 30, 2008. Based in St Priest, it designs and sells fashion footwear under the Palladium brand name primarily to Europe.
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