It’s apparently official, not that it comes as a surprise to anyone, but Deckers Outdoor has now added Sanuk to its odd footwear collection by paying $120 million for the sidewalk surfer maker, according to a story on Reuters.
Goleta, California-based Deckers, known for its sheepskin UGG boots, expects the deal for Sanuk to be modestly accretive to earnings for 2011. . . The deal includes additional participation payments based upon performance of the brand over the next five years.
We’re guessing Jeff Kelley’s gigantic smile must be even larger than normal today.
[Link: Reuters]
