PPR S.A. completes acquisition of Volcom Inc

24 Jun '11

2 min read

PPR S.A. announced that it has completed its acquisition of Volcom, Inc. through a short-form merger, whereby PPR merged its indirect wholly owned subsidiary into Volcom and, as a result, Volcom has become an indirect wholly owned subsidiary of PPR.

In connection with the completion of the transaction, Volcom's common stock ceased to be traded on the Nasdaq Stock Market following market close on Thursday, June 23, 2011 and will be delisted. Detailed instructions will be mailed to former Volcom stockholders who did not tender their shares into the offer outlining the steps to be taken to obtain the merger consideration of $24.50 per share in cash.

Peter J. Solomon Company is acting as financial advisor, and Wachtell, Lipton, Rosen & Katz is acting as legal advisor, to PPR.

Volcom is an innovative designer, marketer and distributor of premium quality young mens and womens clothing, accessories and related products. The Volcom brand, symbolized by The Stone, is athlete-driven, creative and forward thinking. Volcom has consistently followed its motto of “youth against establishment,” and the brand is inspired by the energy of youth culture.

PPR nurtures a group of high-growth global brands distributed in more than 120 countries. Through its Consumer and Luxury brands, PPR generated revenue of €14.6 billion in 2010, and had approximately 60,000 employees at December 31, 2010.

PPR S.A.

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