Huntington Beach-based Quiksilver Inc. has struck a deal to sell its Rossignol unit for $147 million to a former chief executive of the struggling French ski maker.
Led by former Rossignol chief executive Bruno Cercley, Chartreuse & Mont Blanc plans to buy the business in a deal that’s 75% cash and 25% debt.
Chartreuse & Mont Blanc is majority owned by Australia’s Macquarie Group Ltd. and includes minority investor Jarden Corp., a Rye, N.Y., maker of outdoor products.
The deal is expected to close in the fall.
Quiksilver, a maker of clothes inspired by surfing, skateboarding and snowboarding, bought Rossignol for $560 million in 2005.
The acquisition was designed to broaden Quiksilver beyond clothes to sporting goods. Rossignol makes skies, snowboards and related gear.
But Rossignol, which was losing money and market share before Quiksilver bought it, has been a drag on the company. Executives said in January they planned to sell Rossignol.
Shares of Quiksilver were up nearly 11% at close of trading on a market value of $1 billion.
Cercley ran Rossignol before the sale to Quiksilver. In 2006, he joined Wichita, Kan.-based Coleman Co. as head of its European operations. Coleman is part of Jarden.
