67.2 F
San Diego
Tuesday, Jul 16, 2024
-Advertisement-

Orange 21 Looking at No Fear Retail Stores

Orange 21, the Carlsbad maker of Spy Optic sunglasses and sports goggles, confirmed July 19 it is in preliminary discussions with No Fear Inc., a Carlsbad recreational apparel maker, regarding the possible purchase of No Fear Retail Stores Inc.

The unit of privately held No Fear has 40 stores in five states that sell apparel and accessories for the action sports and youth lifestyle markets, according to Orange 21.

The companies said there is no binding agreement with respect to any potential transaction. “The discussions are at a stage where there can be no assurance that any such agreement will ever be reached,” according to an Orange 21 statement.

Mark Simo, chairman and chief executive officer of Orange 21, is also the founder and a stockholder of No Fear, the company said.

Orange 21 generated $40 million in revenue last year. The stock, traded under ORNG on Nasdaq, closed July 19 at $6.38, and has ranged from $3.25 to $6.77 in the past 52 weeks.

, Mike Allen

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-
-Advertisement-