PPR to Purchase Volcom for $607.5 Million

Paris-based retail-to-luxury group PPR SA has made a $607.5 million offer to purchase Costa Mesa, Calif.-based action sports brand Volcom Inc., according to www.wwd.com. The 100 percent cash deal—for $24.50 per share—is expected to close during the third quarter of 2011. PPR plans to expand Volcom’s store network rapidly in North America, which accounts for 60 percent of the company's sales. It also will target expansion in Europe, which currently makes up 22 percent of sales, and enter untapped regions, such as Asia, according to the company. SAVE | EMAIL | PRINT | MOST POPULAR | RSS |