Outdoor financials: Kellwood closes Royal Robbins purchase, plus Deckers, Johnson Outdoors, Crocs, Amer, GSI

Kellwood closes Royal Robbins purchase
Kellwood (NYSE: KWD) said it’s completed its $40 million acquisition of Royal Robbins Inc. from Phoenix Footwear Group. The deal was announced last month.

Royal Robbins, which makes outdoor footwear and apparel, will become part of Kellwood’s American Recreation Products unit. Robert Orlando will remain president of Royal Robbins.

Phoenix Footwear expects to report a $23 million gain on the sale, including transaction costs. Proceeds will be used to pay down part of the company’s long-term debt and pursue growth plans, Chairman Jim Riedman said in a statement.

In other company news: Federal antitrust regulators approved Kellwood’s $175 million purchase of Hanna Andersson, which makes children’s clothes. Kellwood said in announcing the transaction last month that it expects the deal to add to earnings in the first year.

Deckers chairman sells 180,000 shares
Doug Otto, chairman of Deckers Outdoor Corp. (Nasdaq: DECK), exercised options to acquire 180,000 shares of the company’s common stock and then sold them under a prearranged trading plan, according to SEC filings.

In Form 4s filed with the SEC on July 6, Otto reported he exercised options for the shares July 2, 3 and 5 for $3.13 to $19 apiece, and then sold all of them for $100 to $101.65 apiece.

The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material nonpublic information.

Insiders file Form 4s with the SEC to report transactions in their companies’ shares. Open market purchases and sales must be reported within two business days of the transaction.

Johnson Outdoors investor discloses 5.2 percent stake
In a 13D filing with the SEC about Johnson Outdoors Inc. (Nasdaq: JOUT), Warren Lichtenstein’s Steel Partners II disclosed a 5.2 percent stake — 409,857 shares — in the company. The firm held 96,232 shares at the quarter ended March 31, 2007.

Crocs vice president exercises options
Crocs’ (Nasdaq: CROX) vice president of sales and marketing exercised options for 11,669 shares of common stock and sold them under a prearranged trading plan, according to a SEC filing.

In a Form 4 filed with the SEC, Michael C. Margolis reported he exercised options for the shares on July 2 for $2.85 apiece and then sold all of them the same day for $43.14 to $43.31 apiece.

The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.

Insiders file Form 4s with the SEC to report transactions in their companies’ shares. Open market purchases and sales must be reported within two business days of the transaction.

Amer Sports reorganizes executive structure
Amer Sports said it is reorganizing its executive structure to improve the efficiency of its operations and ensure the efficient implementation of group development. The changes will take effect on Sept. 1, 2007.

In its business areas, Salomon, Atomic, Mavic, Arc’Teryx and Bonfire will form the new winter and outdoor business unit. Kari Kauniskangas, Amer Sports senior vice president of sales and distribution, will lead the new unit. The presidents of Salomon and Atomic, Jean-Luc Diard and Michael Schineis, will report to Kauniskangas.

The company said the goal of the reorganization is to guarantee future development of the group’s winter sports and apparel and footwear categories and to ensure that synergies based on the group’s current plans and strategy will be efficiently realized.

Suunto, Wilson and Precor will continue to operate as distinct units.

Also, the sales and channel management unit will include the group’s sales and distribution functions. The unit will be lead by Thomas Ehrnrooth, the global vice president of sales and marketing for Salomon. The regional general managers Mike Dowse (winter and outdoor Americas), Francois Fauroux (EMEA), Matt Gold (Asia Pacific), David Deasley (Canada) and Juan Carlos Aziz (Latin America) will report to Ehrnrooth. Emerging markets and retail concepts will also be a part of this unit.

The corporate supply chain management and IT functions will develop the group’s supply chain, logistics processes and IT systems. The leader of this function will be announced later. Thomas Henkel (information systems), Michel Joulot (Asian sourcing organization) and Eero Alperi (supply chain development) will report to the leader of the new unit.

Lastly, members of Amer Sports executive board are: Roger Talermo, president and CEO; Pekka Paalanne, senior vice president and CFO, deputy to the President and CEO; Max Alfthan, senior vice president, communications; Kari Kauniskangas, winter and outdoor; Jean-Luc Diard, Salomon; Chris Considine, Wilson; Paul Byrne, Precor; Michael Schineis, Atomic; and Juha Pinomaa, Suunto.

Amer added that Thomas Ehrnrooth (sales and channel management) and the future leader of supply chain management will become members of the executive board.

GSI Commerce completes notes offering
GSI Commerce (Nasdaq: GSIC), a provider of e-commerce solutions for retailers and manufacturers, said it has completed its private offering of $150 million principal amount of unsecured 2.5 percent convertible senior notes due June 1, 2027. It also includes the exercise of the initial purchaser’s over-allotment option to purchase an additional $25 million of notes.

Net proceeds to GSI from this offering will be approximately $145 million after deducting estimated discounts, commissions and expenses. GSI expects to use the proceeds for working capital, general corporate purposes and possible acquisitions.

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