Home / Knowledge / News / Apparel/Garments / Adrenalina proposes to acquire PacSun for $4.50 per share
Adrenalina proposes to acquire PacSun for $4.50 per share
Oct '08
Adrenalina, a retail entertainment destination designed for extreme sports enthusiasts, today announced that it has submitted a proposal to the Board of Directors of Pacific Sunwear of California to enter into negotiations that will lead to the acquisition of PacSun for a price of $4.50 per share, consisting of a combination of cash and Adrenalina common stock.

Adrenalina's acquisition proposal represents a premium of 24% above the closing price of PacSun common shares of $3.62 on October 17, 2008, and is subject to PacSun's Board and shareholders approval, execution of a definitive agreement, obtaining the requisite financing and certain other terms and conditions.

“Our offer of $4.50 per share represents a significant increase in value for PacSun stockholders. This action also represents our confidence that Adrenalina can reinvigorate PacSun, a powerful brand name whose underlying retail concept has grown stale, by applying our innovative approach of fusing an exceptional product mix to an exciting entertainment destination,” said Ilia Lekach, Chairman and CEO of Adrenalina.

“Not only does the proposed acquisition price represent a premium to the current price of PacSun's shares, but the cash/stock structure of the transaction would allow shareholders to participate in the future growth and performance of the re-energized combined company,” continued Mr. Lekach. “In addition, the business synergies from joining PacSun's substantial store footprint with Adrenalina's high-growth lifestyle retailing concept are compelling – especially in this challenging economic environment.”

Mr. Lekach added that PacSun CEO, Sally Frame Kasaks, repeatedly declined Adrenalina's prior attempts to enter into discussions, leading to the decision to take the proposal directly to the Board of Directors and PacSun stockholders.

Adrenalina pioneered and branded “The Extreme Store” concept, which showcases top-quality athletic apparel, equipment and accessories in a fun, engaging retail entertainment format. Building on the popularity of the Adrenalina TV program, Adrenalina stores feature the FlowRider wave machines for which it has exclusivity in retail locations.


Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Anshul Sood

‘Indian footwear market is nascent and largely a trend follower’

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search