Footwear maker Crocs completes acquisition of Jibbitz
06 Dec '06
1 min read
Crocs Inc announced that it has successfully completed its previously announced acquisition of the membership interest of Jibbitz, LLC, a family operated business that specializes in the customization of Crocs footwear.
The purchase price was $10 Million in cash at closing, and is subject to a potential earn-out of up to an additional $10 Million based on Jibbitz hitting certain earnings targets in the future.
Ron Snyder, President and Chief Executive Officer of Crocs Inc commented “We are very excited about this acquisition as we believe Jibbitz represents a tremendous strategic fit for our company."
"We look forward to leveraging each organization's strengths in order to fully capitalize on the many new and exciting growth opportunities in our future.”
Jibbitz is a family owned business based in Boulder, Colorado. We are active bikers and also spend at least 1 month per year on a beach. Between myself, my husband and our 3 children we own 12 pair of Crocs.
marketing@alchempro.com
