Quiksilver buys Rossignol

Quiksilver buys Rossignol{mosimage}Quiksilver, a Huntington Beach-based manufacturer of surfing equipment, announced today that it has acquired a majority stake in Rossignol.

Quiksilver gained controling interest in Rossi after purchasing $320 million worth of stock from chairman Laurent Boix-Vives. Quiksilver officials suggested that it will tender an offer for outstanding shares in Rossi in the near future.

The new company will be called Quiksilver Rossignol.

The acquisition creates a clear leader in the winter sports equipment market; Rossi was already the world’s biggest maker of ski and snowboard equipment as well as a top producer of skiwear. ‘Our ambition is to represent in the outdoor [market] what Nike and Addidas represent for team sports, with brands that kids will fight to get their hands on’ Quiksilver chairman Bernard Mariette told reporters at a news conference in Paris.

In adition to Rossi’s strong ski and snowboard brands, Quiksilver was also reputedly interested in Rossi’s Cleveland Golf division, a brand which has done well in U.S. markets.

Rossi will stay in Voiron, it’s current location in the French Alps. French unions say they expect to see about 150 job cuts, out of 2,900 staff employed by the group.