PPR concludes Volcom purchase
French luxury goods and fashion group PPR has completed its acquisition of action sports apparel company Volcom, acquiring 87.4% of the company’s shares by the conclusion of its extended offer period.
PPR said it intended to complete the acquisition of the company’s remaining shares “as soon as practicable”.
“PPR’s Sport & Lifestyle Group is well-positioned to develop in the promising segment of action sport, thanks to Volcom’s outstanding brand with strong identity and unique heritage,” said François-Henri Pinault, chairman and CEO of PPR.
“Together with Volcom’s senior management and teams, we will set out to take advantage of the synergies that will allow Volcom to reach a new stage in its development while keeping true to its values and customers.”
Volcom CEO Richard Woolcott added: “With PPR, we now have the opportunity to further develop Volcom on a global level with the benefit of an entrepreneurial-minded, quality-driven and socially conscious partner.”
