Vans, Inc. Acquires Mosa Extreme Sports, the Owner of Pro-Tec Helmets and Accessories.Business Editors SANTA FE SPRINGS Santa Fe Springs, city (1990 pop. 15,520), Los Angeles co., SW Calif., inc. 1957. The city lies in an oil and natural gas region and has diversified manufacturing. , Calif.--(BUSINESS WIRE)--April 16, 2002 Vans, 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 : VANS) today announced that it has acquired Mosa Extreme Sports extreme sports Sports events characterized by high speed or high risk. Such sports include aggressive inline skating, wakeboarding, street luge, skateboarding, and freestyle bicycle events (wherein tricks such as back flips are performed on a bicycle). , owner of Pro-Tec, the leading brand of protective gear for Core Sports(TM). The cash and stock transaction is valued at approximately one times Mosa's annual sales of $10-$15 million. Headquartered in Hermosa Beach Hermosa Beach (hûrmō`sə), city (1990 pop. 18,219), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1907. It is a residential suburb and a popular resort noted for its fine, sandy beaches and excellent surf. , California, Mosa offers a full line of protective helmets and pads under the Pro-Tec brand. Many of the leading athletes endorse the Pro-Tec brand including skateboarding greats Bob Burnquist Robert Dean Silva Burnquist (born October 10, 1976 in Rio de Janeiro, Brazil), better known as Bob Burnquist, is a professional skateboarder and a Christian Spiritist[1]. He was born to a Swedish-American father and a Brazilian mother. , Steve Caballero Steve Caballero, (born November 8, 1964, San Jose, California), is a professional skateboarder. Steve was born in the year of the dragon, and has had several board graphics that feature dragons. He was born with scoliosis (curved spine. , Andy MacDonald Andy Macdonald (born July 31, 1973) is one of the best-known professional vert skateboarders today, winning the World Cup Skateboarding competition eight times. He started skateboarding in 1986 when he was twelve, and turned professional in 1994. , Brian Patch and Bucky Lasek Charles Michael 'Bucky' Lasek (born December 3, 1972 in Dundalk, Maryland) is a professional skateboarder. Lasek started skateboarding at the age of twelve, shortly after his bike was stolen. , snowboarding superstars, Tara Dakides and Todd Richards, BMX BMX abbr. bicycle motocross BMX Noun 1. bicycle motocross: stunt riding over an obstacle course on a bicycle 2. stars Cory Nastazio and TJ Lavin, and wakeboarding Wakeboarding is a surface water sport which involves riding a wakeboard over the surface of a body of water behind a boat. It was developed from a combination of water skiing, snow boarding and surfing techniques. legend Darin Shapiro. "Founded in 1973 and recognized as one of the original skateboard helmet brands, Pro-Tec possesses great authenticity, and like Vans, it has successfully leveraged its brand across multiple Core Sports(TM) as the leader among skateboard, BMX, wakeboard and snowboard enthusiasts," stated Gary H. Schoenfeld, President and Chief Executive Officer. "From a strategic standpoint, this acquisition allows us to further extend our leadership position in the market and leverage our infrastructure with limited risk or distraction to our core footwear, retail and apparel business. Participation in these sports continues to grow with approximately 75 million participants worldwide and protective gear is increasingly being regarded as an integral part of the equipment for Core Sports(TM)."(a) Mr. Schoenfeld continued, "Operationally there are distinct advantages for both execution and profitability that come with increased vertical integration as we are already one of Pro-Tec's top five customers through our stores and skateparks.(a) Furthermore, there exist significant synergies in terms of marketing, R&D, distribution and administration.(a) Financially, we expect the deal to be mildly accretive in fiscal 2003 and as we consolidate operations into our existing infrastructure we expect the accretion to become more meaningful in fiscal 2004."(a) Vans, Inc. is a leading branded lifestyle company for the youth market. Vans reaches its 10 to 24 year-old target consumers through the sponsorship of Core Sports,(TM) such as skateboarding, snowboarding, surfing and wakeboarding, and through major entertainment events and venues, such as the VANS Triple Crown(TM) Series, the VANS Warped Tour,(R) the VANS World Amateur Skateboarding Championships, 11 large-scale VANS skateparks, and the VANS High Cascade Snowboard Camp,(R) located on Mt. Hood. The Company operates 161 retail stores in the U.S. and Europe, and designs, markets and distributes active-casual footwear, clothing and accessories, performance footwear for Core Sports, (TM) snowboard boots, step-in snowboard boot bindings, and outerwear worldwide. Vans' Internet address is www.vans.com. (a) These are forward-looking statements about the future results and synergies which could be achieved by the acquisition. Actual results could vary significantly and could be impacted by a number of important factors, including but not limited to: (i) the ability of the Company to successfully integrate Mosa's business with the Company's; (ii) the ability of Mosa to successfully execute its expansion plans; and (iii) whether sports for which protective gear is important, such as skateboarding and snowboarding, will continue to grow. |
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