The Orange 21 Inc. board of directors is reportedly conducting preliminary discussions with No Fear Inc. regarding a possible strategic transaction involving the acquisition of No Fear Retail Stores, Inc., a subsidiary of No Fear. NFRS currently operates 40 stores in five states that sell apparel and accessories for the action sports and youth lifestyle markets, primarily under the No Fear and Spy Optic brands.
Mark Simo, chairman and CEO of Orange 21, is also the founder, a director and a stockholder of No Fear. Mr. Simo is not representing Orange 21 in any discussions regarding the transaction and is not a member of the committee in charge of negotiations. Orange 21 has engaged W.R. Hambrecht + Co. to assist it in evaluating the potential transaction. No Fear has engaged Thomas Weisel Partners LLC to assist it in evaluating the potential transaction.
