Business news : Rossignol Group will be soon under Norwegian flag

The Australian Macquarie investment fund holds exclusive talks to yield the Norwegian fund Altor about 80% of Rossignol, announced Monday the Grenoble group includes the brands Rossignol and Dynastar ski, ski boots Lange and Look bindings.

At the end of the operation, Altor hold 80% stake in Rossignol, while a group of minority shareholders will own approximately 20%, said Rossignol in a statement, confirming a report in Le Figaro.

The minority group consists of the CEO and management Cercley Rossignol, Weber Investment Fund and the family of iconic owner of the group, the Boix-Vives.

Subject to clearance from the competition authorities, the sale is expected to close by this fall.

"This important change in the shareholding accompany the group's entry into a new phase of development, at a time when it outperformed the market," said Rossignol in a statement. "Continue to strengthen its position in its core business, while accelerating the development of complementary product categories."

Rossignol and intends to develop the textile and "outdoor" to become stronger in the winter sports activities less seasonal.

"We do realize that 9 million euros of turnover in this sector (...) My feeling is that we will exceed the one with the textile industry 200 million turnover by five to six years, "said Cercley in Le Figaro. According to him, Rossignol could also enter the market for tennis rackets and bicycles.

The Group employs 1,121 people worldwide and achieved a turnover of 207 million euros for the 2011-2012 period.

Altor is particularly known for his work for the redeployment of Helly Hansen clothing brand known for its water line.

About Rossignol Group:
The Rossignol Group is a leading global manufacturer of winter sports equipment and the world number one for alpine skiing. The group includes the ROSSIGNOL, DYNASTAR, LANGE, LOOK, RISPORT and KERMA brands.

The group's core markets are alpine skiing, Nordic skiing and snowboarding. Its products include skis, snowboards, boots, bindings and technical equipment, as well as clothing and accessories. Each brand may have its own identity, but they all share excellence, high performance and technical expertise in their DNA.

French source Reuters

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