Volcom Tokyo
Volcom Tokyo
 

27 Jul. 2010

VOLCOM TO ACQUIRE AUSTRALIAN BUSINESS

Action sports brand Volcom, Inc. is acquiring its Volcom Australia licensee. Terms of the transaction were not disclosed. The company, which also has licensees in Brazil, Indonesia, South Africa and Argentina, anticipates the acquisition, which is expected to close in the third quarter, to be neutral to earnings in 2010. “This acquisition supports our continued commitment to building a solid following for the Volcom brand in Australia and maximizing our many strengths and prospects in this important region,” said Richard Woolcott, Volcom’s Chairman and CEO. “This is one of the most influential territories for Volcom, and this move represents a great opportunity for us to continue to build brand strength and market share.” John Clapham, CEO of Volcom Australia, said: “We believe this will strengthen the company’s main aim to grow our share of the market and will enable us to take the brand to the next level in Australia and New Zealand.”

Tim Yap

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