Interviews
News Flash
Jarden announces definitive agreement to acquire K2 Inc
26 Apr '07
3 min read
Jarden Corporation and K2 Inc announced they have signed a definitive merger agreement pursuant to which Jarden will acquire K2. Under the terms of the agreement, Jarden will pay $10.85 per share of K2 common stock in cash and will issue 0.1086 of a share of Jarden common stock (subject to adjustment as provided in the merger agreement) for each share of K2 common stock outstanding as of the closing.
The cash and Jarden stock to be issued in the transaction has a combined value of approximately $15.50 per K2 share, based on the closing price of Jarden common stock on the date of signing the merger agreement. The total enterprise value of the transaction, including the assumption or repayment of indebtedness, is approximately $1.2 billion. The transaction is expected to be accretive to Jarden's earnings and to close early in the third quarter of this year.
With a portfolio of market leading brands, K2 is well regarded as a global product innovator and leader in a number of sports equipment markets. K2's portfolio of well-known brands includes Adio, Ex Officio, JT, K2, Marker, Marmot, Penn, Rawlings, Ride, Sevylor, Shakespeare, Stearns, Volkl and Worth.
Headquartered in Carlsbad, CA, K2 has a strong presence in North America as well as Europe and Asia and fits well with Jarden's stated strategy of building and acquiring leading, niche consumer-oriented brands.
Its strength in the specialty and multi-store sporting goods, marine, and outdoor retail channels and proven international presence, combined with its focus on new product introductions and market innovations, would provide Jarden with significant growth opportunities and the ability to expand into adjacent markets. K2's primary business lines would be reported through Jarden's Outdoor Solutions segment upon closing of the transaction.
The cash and Jarden stock to be issued in the transaction has a combined value of approximately $15.50 per K2 share, based on the closing price of Jarden common stock on the date of signing the merger agreement. The total enterprise value of the transaction, including the assumption or repayment of indebtedness, is approximately $1.2 billion. The transaction is expected to be accretive to Jarden's earnings and to close early in the third quarter of this year.
With a portfolio of market leading brands, K2 is well regarded as a global product innovator and leader in a number of sports equipment markets. K2's portfolio of well-known brands includes Adio, Ex Officio, JT, K2, Marker, Marmot, Penn, Rawlings, Ride, Sevylor, Shakespeare, Stearns, Volkl and Worth.
Headquartered in Carlsbad, CA, K2 has a strong presence in North America as well as Europe and Asia and fits well with Jarden's stated strategy of building and acquiring leading, niche consumer-oriented brands.
Its strength in the specialty and multi-store sporting goods, marine, and outdoor retail channels and proven international presence, combined with its focus on new product introductions and market innovations, would provide Jarden with significant growth opportunities and the ability to expand into adjacent markets. K2's primary business lines would be reported through Jarden's Outdoor Solutions segment upon closing of the transaction.
Popular News
Leave your Comments
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
