Burton Signs Letter of Intent to Acquire Forum, Special Blend, Jeenyus and
Foursquare Snowboard Brands
BURLINGTON, Vt., July 15 /PRNewswire/ -- Four Star Distribution has agreed
to sell all four of its snowboard brands to Burton. Both parties have
agreed on terms and are in the due diligence period of the acquisition,
which is expected to be complete by August 15th, 2004. Four Star's brands
will stay on the West Coast but will move from its current location.
The acquisition represents a new day for Burton to add to its existing
portfolio of brands, which includes Burton, Analog, Gravis Footwear, RED
Helmets & Impact Protection and Anon Optics. "We feel that the acquisition
of Forum, Special Blend, Jeenyus and Foursquare presents an excellent
opportunity to reach out to a company that has great brands and a strong
consumer following, but has not been able to reach its market potential,"
said Laurent Potdevin, Burton's President. Markus Bohi of Four Star
Distribution went on to say, "Selling off these brands is a very difficult
decision for the company. We felt that we needed to concentrate on C1RCA's
footwear and apparel business in order to be successful in the long-term.
Over the years, we have been approached many times about selling these
brands, but the fit and timing never worked. The timing is now right, and
we could not place the brands' future in better hands than Burton, the
clear global market leader."
"I think I speak for all of us at Burton when I say that we have gotten
tired of watching ski companies buy up snowboard brands," says Jake
Burton, founder and owner of Burton. "Forum is a company we have always
respected, and it is a brand that needed to stay in the hands of
snowboarders. We will do our best to see that Forum and its sister brands
continue to grow and develop."