Shimano is the proud owner of Pearl Izumi.
Shimano has purchased Pearl Izumi, the apparel and footwear division of fitness giant Nautilus, Inc., for US$69.5M. The purchase price includes $65.3 million in cash and the assumption of $4.2 million in long-term debt along with any net working capital adjustments. Pending regulatory approval and closing conditions, the deal is expected to be completed by March 31, 2008.
Pearl Izumi will become a wholly owned subsidiary of Shimano American Corporation (SAC) and Shimano will also own Pearl Izumi's facility in Kirchzarten, Germany along with the rights to Pearl Izumi sales and distribution throughout North and South America, Europe, Australia and select other countries with the exception of Japan and most of Asia.