Zumiez Inc. Acquires European Action Sports Retailer Blue Tomato
Zumiez Inc., a leading specialty retailer of action sports related apparel, equipment, footwear and accessories, announced earlier this week that it has signed a purchase agreement for EUR 59.5 million to acquire Blue Tomato, a leading European action sports retailer based in Austria. The agreement also provides for an additional EUR 22.1 million of contingent future payments based upon achieving certain growth-related goals over the next three years.
Blue Tomato will continue to be headquartered in Schladming, Austria. Senior management led by former European Snowboard champion Gerfried Schuller, who founded the company in 1988 will continue in their current positions. Blue Tomato operates one of Europe's largest action sports e-commerce websites www.blue-tomato.com, available in 14 different languages. Additionally, the company operates 5 stores in Austria.
Gerfried Schuller commented, "When I decided to sell the company I could not imagine a better fit for how we operate than Zumiez. We have built the leading action sports retail company in Europe and now we will be a part of the leading action sports retailer in the United States. Starting today, Zumiez and Blue Tomato are ready to begin a new journey to become the world's leader in action sports retailing."