From Earlier: Zumiez Acquires Blue Tomato for EUR 59.5M

Zumiez Inc. ZUMZ today announced that it has signed a definitive purchase agreement to acquire Blue Tomato, a leading European action sports retailer based in Austria. The total purchase price for Blue Tomato will be EUR 59.5 million, subject to certain pre-closing and post-closing adjustments. In addition to the purchase price, the agreement provides for an additional EUR 22.1 million of contingent future payments based upon achieving certain performance objectives related to growth over the next three years. The acquisition, which will be funded by Zumiez's existing cash balances, is expected to be modestly accretive to earnings per share in fiscal 2012, excluding all acquisition and integration expenses. The acquisition is projected to close prior to the end of the second quarter of 2012. A portion of the contingent future payments are to be in the form of Zumiez stock.