South Korean retailer E.Land World announced yesterday it would buy all the outstanding common stock of US footwear maker K-Swiss for $4.75 a share in cash, or a total equity value of about $170 million.
K-Swiss was founded more than 40 years ago in Van Nuys, California, and is listed on Nasdaq. It is perhaps best known for having introduced the first all-leather tennis shoe, the K-Swiss Classic, in 1966.
E.Land is a privately owned retail group, established in 1980, that has grown to become one of the biggest South Korean conglomerates, primarily specialising in fashion and retaildistribution. It has been on an acquisition...
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