Duff & Phelps Advised Zumiez Inc. on its Acquisition of Blue Tomato
Zumiez, Inc. (“Zumiez”) operates as a specialty retailer of action sports related apparel, footwear, equipment, and accessories. It offers apparel products including tops, bottoms, outerwear, caps, bags and backpacks, belts, jewelry, and sunglasses; and footwear products comprising action sports related athletic shoes and sandals. The Company also offers various equipment products or hard goods, such as skateboards, snowboards, and boots and bindings; and miscellaneous novelties. Zumiez is listed on the Nasdaq Stock Market.
About Blue Tomato
Blue Tomato was founded by former European Snowboard champion Gerfried Schuller in 1994 and operates one of Europe’s largest action sports eCommerce websites www.blue-tomato.com, which is available in 14 different languages. As at July 2012, the Company operated five stores in Austria. Blue Tomato sells an extensive and diverse mix of branded snow and skate hard goods, apparel, footwear, and accessories across Europe.
Role of Duff & Phelps
Duff & Phelps acted as the exclusive financial advisor to Zumiez.
Blue Tomato was acquired by Zumiez. The transaction closed on July 4, 2012 and the total purchase price for Blue Tomato was €59.5 million, subject to certain pre-closing and post-closing adjustments. The agreement provided for an additional €22.1 million of contingent future payments based upon achieving certain performance objectives related to growth over the next three years.