Quiksilver sells Cleveland Golf - sportstextiles: Lea SportsTextiles

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Quiksilver sells Cleveland Golf

31/10/2007

Surf clothing and accessories brand Quiksilver Inc. is to sell 100% of the stock of its subsidiary Cleveland Golf Co. Inc. to Japanese firm SRI Sports Ltd.

The group has reportedly been sold for $132.5 million and the sale is expected to close in the quarter ended January 31, 2008. The company plans to use revenues from the sale to settle existing debts.

Cleveland became its wholly owned subsidiary in September.


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