XDOGS.COM Announces A Letter of Intent to Acquire the Exclusive North American Distribution Rights for Oxbow S.A
MINNEAPOLIS–Jan. 19, 2000–XDOGS.COM (OTCBB:SNOW) (www.xdogs.com) announces execution of a binding letter of intent to acquire the exclusive North American distribution rights of the French company, Oxbow, S.A. (“Oxbow”), a CVC Capital Partners
(“CVC”) portfolio company. CVC is the largest leveraged buyout partnership in Europe. XDOGS will be the exclusive North American “Clicks and Mortar” distributor for the Oxbow collection.
“Oxbow is a market leader in Western Europe of surfing, snowboarding, motocross racing, and windsurfing lifestyle and active sports apparel, equipment and accessories. Our association with this premier brand will serve as an anchor of our business model. Oxbow combines functionality with high fashion, is exclusive and well branded, and compares very favorably with the Quicksilver (NYSE:ZQK) brand. The opportunity to have an exclusive distribution agreement with Oxbow is unique and unprecedented, and we look forward to assisting them in building a premium outdoor lifestyle brand worldwide,” said the Company’s Chairman and Chief Executive Officer, Kent Rodriguez.
“This represents a major phase of Oxbow’s future development. Oxbow has enjoyed a reputation for outdoor innovation since its foundation in 1972 and has a great tradition in the water sports and snow sports marketplace. We now have an excellent opportunity to take one of Europe’s leading outdoor performance brands into the North American marketplace. I am excited to have the opportunity to work with a truly dynamic and forward thinking partner in XDOGS.COM,” said Oxbow President and Chief Executive Officer, Philippe de Vilmorin.
XDOGS.COM is an innovator in the distribution of premium branded active outdoor European apparel and equipment in the North American marketplace. The company is also building a premier on-line destination site for the outdoor enthusiast.
Forward-looking statements contained in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by some statements made in this release. You are cautioned that all forward-looking statements involve risks and uncertainties. Among the factors that could cause results to differ materially are the following: lack of availability of financing; inability to control costs or expenses; manufacturing and distribution problems; and lack of market acceptance of the Company’s products. Reference is also made to the risk factors contained in the Company’s Registration Statement on Forms S-3 (No. 33-80875), which are incorporated herein by reference.