Crocs, Inc. Successfully Completes Acquisition of Jibbitz, LLC.NIWOT, Colo. -- Crocs Crocs Inc. (NASDAQ: CROX) is an American company founded by Lyndon "Duke" Hanson, Scott Seamans, and George Boedecker[1] in July 2002. Based in Boulder, Colorado, the firm was created to market a lightweight plastic shoe first developed and manufactured by Foam , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CROX) today announced that it has successfully completed its previously announced acquisition of the membership interest of Jibbitz, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a family operated business that specializes in the customization of Crocs footwear. The purchase price was $10 Million in cash at closing, and is subject to a potential earn-out of up to an additional $10 Million based on Jibbitz hitting certain earnings targets in the future. Ron Snyder, President and Chief Executive Officer of Crocs, Inc., commented "We are very excited about this acquisition as we believe Jibbitz represents a tremendous strategic fit for our company. We look forward to leveraging each organization's strengths in order to fully capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the many new and exciting growth opportunities in our future." About Crocs, Inc: Crocs, Inc. is a rapidly growing designer, manufacturer and retailer of footwear for men, women and children under the Crocs[TM] brand. All Crocs[TM] brand shoes feature Crocs' proprietary closed-cell resin, Croslite[TM], which represents a substantial innovation in footwear. The Croslite[TM] material enables us to produce soft, comfortable, lightweight, superior-gripping, non-marking and odor-resistant shoes. These unique elements make Crocs[TM] footwear ideal for casual wear, as well as for professional and recreational uses such as boating, hiking hiking Walking, often among hills or mountains, as recreational sport. It represents an activity in its own right and also figures in backpacking, camping, hunting, mountaineering, and orienteering. , hospitality and gardening. The versatile use of the material has enabled us to successfully market our products to a broad range of consumers. In 2006, the company acquired Jibbitz LLC, a unique accessory brand with colorful snap-on products specifically suited for Crocs shoes. Today, more than 400 Jibbitz designs are available to consumers for personalizing and customizing their Crocs[TM] footwear. Crocs are sold in more than 60 countries and come in a wide array of colors not of the white race; - commonly meaning, esp. in the United States, of negro blood, pure or mixed. See also: Color and styles. Please visit www.crocs.com for additional information. Forward Looking Statements Certain information contained in this press release may be deemed to constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, our ability to obtain and protect intellectual property rights and other factors described in our annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. under the heading "Risk Factors," and our subsequent filings with the Securities and Exchange Commission. Readers are encouraged to review that section and all other disclosures appearing in our filings with the Securities and Exchange Commission. |
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