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Crocs

Information about Crocs

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In April 2008, Crocs acquired Tidal Trade, Inc. ("Tidal Trade"), the company's third party distributor in South Africa, for $4. 6 million. The company recorded $1. 4 million in customer relationships on the date of acquisition. Crocs repurchased inventory previously sold to Tidal Trade and accordingly recognized a reduction of revenue of approximately $2. 1 million. Also in April the company acquired Tagger International B. V. ("Tagger"), a private limited liability company incorporated under Dutch law that manufactures messenger bags. Tagger was partially owned by the Managing Director of Crocs Europe B. V. The company acquired all Tagger assets for $2 million – $90,000 for inventory and $1. 9 million for the Tagger trademark. Later in June, Crocs liquidated Fury, Inc. two years after acquiring it, after efforts to sell it off were unsuccessful. As a result, Crocs wrote off $250,000 related to the remaining customer relationships, intangible assets and trademarks over three months.