Fossil Inc. Completes Acquisition of Skagen Designs Ltd.
Fossil Inc., the watch retailer and supplier headquartered in Richardson, Texas, announced that it has completed the previously announced acquisition of Reno, Nevada-based Skagen Designs Ltd. effective April 2, 2012.
The deal, which was originally announced in January, saw Fossil acquire the Nevada-based watch and jewelry supplier and certain of its international affiliates for $231.7 million in cash, which includes a working capital adjustment of approximately $6.7 million, and 150,000 shares of Fossil Inc. common stock. In addition, the sellers may receive up to 100,000 additional shares of Fossil common stock if Fossil's net sales of Skagen-branded products exceed certain thresholds.
- Companies:
- Fossil
- Skagen Designs
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