Blue Tomato gets snapped up by US chain Zumiez in €59.5m deal2012-06-20 1
Blue Tomato, the go-to European snow, skate and sports site has been snapped up by US sports chain Zumiez in a €59.5m ($75m) deal.
The Austrian company, founded in 1988 by European Snowboarding champion Gerfried Schuller, is one of Europe’s biggest online sports retailers, (as well as having five real-world stores in Austria) and this move will most certainly provide the much-needed push to international expansion. It’s also reported that an extra $28 million (€22m) will be paid if certain growth KPIs are achieved over the next three years.
US sports retailer Zumiez has 459 stores in the US and Canada and plans to “expand Blue Tomato’s European footprint”.
“Joining forces with Blue Tomato represents the next step in our strategic plan to build the leading global action sports retail business,” said Zumiez CEO Rick Brooks. “The similarities between each organization’s culture and operating philosophies give us great confidence we can successfully leverage our combined expertise to selectively expand Blue Tomato’s European footprint and strengthen our foundation to support future international development.”
Blue Tomato will continue to be headquartered in Schladming in Austria and the current management board will still be led by Gerfried Schuller. Blue Tomato has been enjoying a steady sales trajectory thanks mainly to its ecommerce ventures – seeing sales rise 27% in the past year to $37.3 million, enjoying a net income of $4.44 million.