US-based outdoor sports firm Quiksilver, Inc. has closed the sale of Roger Cleveland Golf Company, Inc. to Japanese sports equipment company SRI Sports Limited. Quiksilver announced its intention to limit the group’s exposure to hardgoods manufacturing in June.

Cleveland Golf was sold for $132.5 million, Quiksilver directly profiting by approximately $105 million, which will be used to reduce debts.

Quiksilver designs, produces and distributes a range of branded apparel, wintersports equipment, footwear and accessories. The company's products are sold in more than 90 countries in range of outlets, including surf, ski, skateboard and snowboard shops.

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