Runners Forum - Kick Runners banner
1 - 9 of 9 Posts

·
Registered
Joined
·
13,030 Posts
Discussion Starter · #1 ·
<b><span style="font-size:small;">... for US$69.5M</span></b><br><br>
Shimano has purchased Pearl Izumi, the apparel and footwear division of fitness giant Nautilus, Inc., for US$69.5M. The purchase price includes $65.3 million in cash and the assumption of $4.2 million in long-term debt along with any net working capital adjustments. Pending regulatory approval and closing conditions, the deal is expected to be completed by March 31, 2008.<br><br>
Pearl Izumi will become a wholly owned subsidiary of Shimano American Corporation (SAC) and Shimano will also own Pearl Izumi's facility in Kirchzarten, Germany along with the rights to Pearl Izumi sales and distribution throughout North and South America, Europe, Australia and select other countries with the exception of Japan and most of Asia.<br><br>
"The acquisition brings together two companies started by Japanese families who share a passion for cycling," said SAC President David Pfeiffer. "Both have strong research and development backgrounds, offer industry leading innovations, and share an obsession with quality and performance. We'll continue to build the respective brands and remain dedicated to the healthy independent dealer networks we've both enjoyed."<br><br>
"The entire team at Pearl Izumi USA and Europe are excited about opportunities and benefits we gain in becoming part of Shimano," said Pearl Izumi President Juergen Eckmann. "Shimano provides knowledge and expertise which will make our brand stronger and we in turn have a great deal of experience in performance apparel, fabric technologies and run footwear that Shimano did not previously possess."<br><br>
"We believe this divestiture is in the best interest of shareholders by providing liquidity and keeping our organization focused on restoring profitability to our global fitness business," added Bob Falcone, President and CEO of Nautilus, Inc. "Pearl Izumi is an excellent brand of apparel and footwear for cycling and running. We are pleased to have found a strategic buyer in Shimano that values the brand as well as our talented apparel and footwear staff."<br><br>
According to SAC, Pearl Izumi will become part of a "broad dual brand" strategy whereby Shimano will continue to offer its own line of branded footwear and apparel in concert with Pearl Izumi footwear and apparel in all of its markets. SAC has also stated that Pearl Izumi will remain a standalone company and its current operations and management will remain in its Broomfield, Colorado and Kirchzarten locations.<br><br>
"Pearl Izumi is a leader in the performance sports apparel and footwear market, and we plan to keep them in that position," Pfeiffer said. "Pearl Izumi's design expertise creates products for the avid cycling and running enthusiasts and we'll provide Juergen Eckmann and his team with all of Shimano's support and resources needed to continue that tradition."
 

·
Registered
Joined
·
17,497 Posts
My friend's hubby works for Pearl, and they are ok with this...<br><br>
I need to get a job with them, they are local!!
 

·
Registered
Joined
·
596 Posts
I didn't know they were formerly owned by Nautilus. Interesting.<br><br>
I've always been curious to try their running shoes. Never have though.
 

·
Registered
Joined
·
17,497 Posts
They sponsor my running group. All of our coaches seem to like them. But my friend, who's hubby works for them, can't run in them. He's totally bummed, because she'd get free shoes otherwise!
 

·
Registered
Joined
·
63 Posts
<br>
Where in CO are you? (If you don't mind me asking). I'm relocating to CO and actually just applied for a job there but didn't get it... <img alt="sad.gif" src="http://files.kickrunners.com/smilies/sad.gif">
 

·
Registered
Joined
·
17,497 Posts
Broomfield/Lafayette (north of denver).<br><br>
Where are you planning to move?<br><br>
I am in HR... what area of work are you in?<br><br>
We'll have to meet up sometime, us and caffinated and ddeinger, who I am not sure made the transition.
 

·
Registered
Joined
·
63 Posts
<br>
Fun fun! I won't really know anyone there except my dh and sister! Preferably closer to Boulder where my sister lives but my DH is planning to work in Denver so maybe somewhere in between? We're actually heading out there next week to check it out some more.<br><br>
Right now I work in the corporate office for a national retail company. My current postion is in Merchandising Operations, so a lot of reporting, database management type stuff. My previous position here was a Buyer Assistant so more ordering, purchase order creation type stuff.
 

·
Registered
Joined
·
17,497 Posts
ooh, we have a lot of fun stuff like Pearl and Crocs headquartered out here, you might look at their sites.<br><br>
Boulder is close to me, just west of Lafayette, and a little northwest of Broomfield.<br><br>
Keep me posted! I'd love to have a tri buddy, even if all we did was hook up to ride sometime. Ooh, fun!!!!
 
1 - 9 of 9 Posts
Top