Wham-O Buys Assets of Snowboard Maker
Apr. 29, 2003
EMERYVILLE, Calif. (AP) _ Wham-O Inc. said Tuesday it bought the assets of snowboard maker Riva Sports Inc. for an undisclosed sum.
The acquisition gives Emeryville, Calif.-based Wham-O, which makes Frisbees and Hula Hoops, an expanded line of plastic snowboards to complement its lineup of foam snowboards.
The deal will push privately held Wham-O's projected revenue for this year to nearly $100 million, chief executive Mojde Esfandiari said. Rockville, Md.-based Riva had annual revenue of $15 million to $20 million, Esfandiari said.
The purchase marks Wham-O's second significant acquisition in seven months as part of the company's effort to expand beyond its best-known lines. Wham-O bought Earth and Ocean Sports last year.
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