Huntington Beach-based Quiksilver Inc. said Wednesday it acquired nearly half the shares of France’s Skis Rossignol SA from the company’s controlling family.
The move is the first step in the buyout of the ski maker. Quiksilver bought the 49.5% stake from the Boix-Vives family.
Now Quiksilver plans to make an offer for the remaining shares and expects the deal to close by July 31.
Quiksilver detailed plans to buy Skis Rossignol SA for $312 million in March after first expressing interest in the company late last year.
The deal is the largest in a series for Quiksilver.
Earlier this month, Quiksilver Inc. said it plans to buy Australian retail chain Surfection.
Last year, the company bought Vista-based DC Shoes Inc., a maker of shoes for skateboarders, for $87 million in cash and stock.
But Rossignol could prove to be Quiksilver’s most challenging acquisition. The surfwear maker is betting its distribution and marketing muscle can help Rossignol.
The French company said it expects a “heavy loss” for the year ended March 31, due to restructuring charges, the weak dollar and a weak winter sports season.
Rossignol is cutting about 135 jobs as part of its restructuring effort.
And Rossignol faces competition on all sides. On the low end are ski clothes and gear from China. Many of the sector’s most profitable products come from smaller players.
