Fossil Inc. Completes Acquisition of Skagen Designs Ltd.
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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.
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- Companies:
- Fossil
- Skagen Designs
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