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Oakley Expands Direct Distribution Operations Into Canada
FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--April 2, 1998--Further expanding its direct distribution operations, Oakley Inc. (NYSE:OO) Thursday announced it has acquired its Canadian distributors' Oakley division and will rename it Oakley Canada Inc. Financial terms of the agreement were not disclosed.
Based in Montreal, the wholly owned subsidiary was formed through the acquisition of Oakley Canada, a division of Outdoor Gear Canada, Oakley's distributor in that region since 1982. Josee Perreault, Outdoor Gear Canada's General Manager of Oakley products, will continue in the same role under an employment agreement with Oakley Canada Inc.
"It's been a privilege to have worked with Oakley and our outstanding network of Oakley retailers these past 16 years," said David Bowman, Outdoor Gear Canada's president. "We wish them every success in the future."
"Outdoor Gear has been an excellent partner in establishing the Oakley brand in Canada, which continues to be one of our strongest performing foreign markets," said Link Newcomb, Oakley's chief executive officer. "This acquisition will enable us to integrate one of our most profitable distributors, capitalize on synergies with the U.S. market and further cultivate demand in this important region as the brand begins to diversify beyond eyewear."
Oakley products are available in more than 70 countries worldwide. The company currently has direct distribution operations throughout Europe and in Japan, South Africa, Mexico and Central America. In other parts of the world, Oakley products are sold through selected distributors with local expertise.
Oakley. A company obsessed with the design and manufacture of inventions that defy convention. Creative fields of operations include high-performance eyewear and athletic equipment.
CONTACT:
Oakley Inc., Foothill Ranch
Link Newcomb, Chief Executive Officer
or
Renee Law, Director, Corporate Communications
714/951-0991
www.oakley.com
KEYWORD: CALIFORNIA
BW0097 APR 02,1998 |
