Tecnica Acquires Nordica
Tecnica's decision to buy Nordica is part of a strategic plan to become the world's foremost winter sports company through acquisitions, production advances, new technology, and research.
The move also fits well with Benetton's objective to divest itself of its Sports Group, including Rollerblade and Prince, in order to focus on its core casual wear business.
Tecnica will close on the transaction January 31, with a final payment due in 2008. As part of the agreement, Benetton will hold a 10% stake in Tecnica S.p.A.
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