California, CalTrade Report, California international, California global, Nixon, Billabong, surfwear, Von Zipper - NIXON ACQUIRED BY AUSSIE SURFWEAR GIANT - CalTrade ReportAsia Quake Victims ENCINITAS – 12/27/05 – California-based Nixon Inc. has been acquired by Australian surfwear company Billabong International Ltd in a package deal valued at $93 million; Billibong’s global business which includes such popular brand names as Von Zipper eyewear, Element shoes, Kustom footwear, and Honolua Surf and Mrs. Palmers surf wax and accessories. - ENCINITAS – 12/27/05 – California-based Nixon Inc. has been acquired by Australian surfwear company Billabong International Ltd in a package deal valued at $93 million; Billibong’s global business which includes such popular brand names as Von Zipper eyewear, Element shoes, Kustom footwear, and Honolua Surf and Mrs. Palmers surf wax and accessories. - NIXON ACQUIRED BY AUSSIE SURFWEAR GIANT California, CalTrade Report, California international, California global, Nixon, Billabong, surfwear, Von Zipper - NIXON ACQUIRED BY AUSSIE SURFWEAR GIANT

 

Sunday, January 01, 2006

 

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Page Two

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NIXON ACQUIRED BY AUSSIE SURFWEAR GIANT

ENCINITAS - 12/27/05 - Australian surfwear company Billabong International Ltd expanded in the market for trendy watches with a deal to buy California-based Nixon Inc. in a package deal approximately valued at $93 million.
 
Billabong said Nixon was a youth-inspired brand distributed in about 30 countries and targeted at the surf, skate and snow board-sports markets.

It estimated Nixon, particularly strong in North American board-sport watches, would contribute at least 5% to 6% of Billabong sales in the 2006-07 fiscal year.

"It gives us a firm foothold in a growth category in which we were under-represented," the Australian company said in a public statement after the acquisition was announced.

"US sales are currently just below 50% of our group sales and we see substantial growth opportunities in America and Europe over the next five years," it said, adding the company "was not looking to further expand its range of categories," which includes such popular brand names as Von Zipper eyewear, Element shoes, Kustom footwear, and Honolua Surf and Mrs. Palmers surf wax and accessories.

Billabong last month bought into the airport-based surfwear retailer "beachculture" as it continues to expand in retailing.

According to media reports, the $93 million purchase price, conditional on Nixon shareholder agreement, involves an initial payment of $73 million and a deferred payment of up to $24 million, depending on future earnings and how long Nixon founders Andy Laats and Chad DiNenna continue to run the brand.

The acquisition is conditional on approval by Nixon's shareholders and regulatory clearance, with those issues expected to be decided by the end of January.

Last year, Billabong reported a net profit of $125.4 million.

Go back, or read the latest Page Two stories:

DotVN, INC. OPENS SAN DIEGO OFFICE

SAN DIEGO – 01/01/06 – Vietnam’s official provider of Internat and telecommunications services, DotVN, Inc., has opened its North American headquarters in San Diego; Vietnam's Internet usage has grown over 1,000% over the past five years and there are currently about 6.1 million Internet users in Vietnam, penetrating only about 7.4% of the population.


EVERGREEN MEGA-SHIP CALLS AT L.A.

LOS ANGELES – 12/23/05 – Evergreen Marine’s Hatsu Sigma recently made her maiden arrival at the Port of Los Angeles; the 7,024-TEU containership is the largest vessel in the company’s fleet and is the second of ten new ''S'' class vessels operated by Hatsu Marine Ltd., the carrier’s British-flag subsidiary, that the Taiwan-based ocean carrier is planning to fold into its fleet over the next two years.


GERMANY WANTS WINE ''PURITY'' LAW

BRUSSELS, Belgium – 12/21/05 – Germany is asking the European Commission to extend the reach of the recent US-EU wine agreement by imposing a ''purity law'' to protect European wines from certain US production practices; the transatlantic wine trade is worth some $2.8 billion a year with most US exports produced in California.


NEW SoCAL DISTRIBUTION CENTER FOR UPS

ONTARIO – 12/16/05 – Expedited air carrier UPS has opened the doors at its new distribution center adjacent to Ontario International Airport in Southern California; the new facility adds considerable clout to the roughly 1.1 billion square feet of industrial warehouse space available in Southern California, almost twice that of other distribution hubs such as New Jersey, Chicago, Atlanta, and Dallas.


NEW CALIFORNIA WINE WEBSITE LAUNCHED

SAN FRANCISCO – 12/14/05 – A new website has been developed to showcase premium California wines in potential overseas markets such as China; the entire website will be translated into Simplified Text for the Chinese marketplace and will reach out through ''unique and innovative programs'' to the Chinese wine, hotel, and import trade as well as affluent consumer markets in China.





 

 

 


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