Quiksilver, Inc. announced it has purchased the Canadian distributor of DC Shoes for approximately $7.0 million in cash. Under terms of the agreement, Quiksilver will acquire Centre Skateboard Distribution, Ltd., which holds the rights to distribute DC Shoes in Canada, as well as the various assets associated with that business. The company also announced that the personnel and infrastructure of CSD Ltd. will support its Quiksilver and Roxy operation in Canada.
Robert B. McKnight, Jr., chairman of the board and chief executive officer of Quiksilver, Inc., commented, “The acquisition of DC Shoes' Canadian distributor is another important step in our ongoing efforts to create a unified world-wide operating platform for our brands. We remain focused on expanding our leadership position in the global marketplace, as this transaction demonstrates. Looking ahead, we believe our prospects for growth continue to be excellent and we are fully committed to capitalizing on the positive momentum we have created to generate further value for our shareholders.”
