According to legal documents linked up by Josh Hunter at Transworld Business, Zumiez has apparently offered $7.2 million for The Active Wallace Group.
Based on the offer made by Zumiez, Active proposes to sell its assets for a total consideration of up to as much as $7.2 million cash, depending upon the outcome of Zumiez valuation of inventory and determination of number of stores to acquire. The total consideration offered to be paid by Zumiez in this case is based on the following formula:
1.) Inventory valued at the lower of cost or market, as determined by an appraiser hired by Zumiez;
2.) $100,000 per store to be purchased by Zumiez; and
3.) Assumption of gift card certificates up to $1.3 million, with total consideration to be adjusted if gift card liability is in excess of $1.3 million.
Crazy days indeed. Odd how quickly things can turn around. Click here to download the entire legal document from TransWorld Business. We’d suggest you read Tiffany Montgomery’s story on Shop-eat-surf.com, too, but you’d have to become an executive member to access the entire piece.
[Link: Transworld Business via Boardistan Commentor]
{ 5 comments… read them below or add one }
Dang.
works well for brands that said hell no to active but do well with Zumiez.
sounds like a good solution. and a steal for Zumiez.
ZACtive
HA! ZACtive! I love it! I haven’t laughed that hard all day! Thanks Kenny! You ROCK!
already been done. just crossing the t’s and dotting the i’s