Deal for Ski Firm Closes

Quiksilver Inc. said Tuesday that it had completed its purchase of Skis Rossignol and named a new president for the French ski equipment maker.

The deal was valued at $320 million in cash and stock.

The Huntington Beach-based surf wear maker, which becomes a major player in the winter sports gear business, tapped Jean-Francois Gautier as Rossignol’s president. Gautier, who has managed an investment firm for the last five years, was president of winter sports equipment maker Salomon from 1990 to 1998.

Quiksilver said it owned about 94% of Voiron-based Rossignol and planned to buy more shares through a second tender offer. The purchase is expected to boost Quiksilver’s earnings by about 2 cents to 3 cents a share in its current fiscal year. Thompson First Call had projected Quiksilver’s earnings to be 84 cents a share before the acquisition.

Chief Executive Robert B. McKnight Jr. called the Rossignol purchase “another milestone” for Quiksilver.

Although analysts have worried that the acquisition would slow Quiksilver’s steady growth trajectory, the company said it opened up a wealth of opportunities to leverage its brands. For starters, Quiksilver is launching skis, boots, bindings and poles under its Roxy brand for girls in the coming winter season.

Shares of Quiksilver fell 11 cents Tuesday to $16.23.