Crocs completes acquisition of Jibbitz
05/12/2006
Crocs, Inc. has successfully completed its previously announced acquisition of Jibbitz, LLC—a family-operated business that produces snap-on products specifically designed to customise Crocs footwear. The purchase price was $10 million in cash at closing, and is subject to a potential earn-out of up to an additional $10 million based on Jibbitz hitting certain earnings targets in the future.
Crocs designs and manufactures footwear for men, women and children which feature Crocs’ proprietary closed-cell resin, Croslite.
There are currently more than 400 Jibbitz designs available for personalising and customising Crocs footwear.
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