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DECK > SEC Filings for DECK > Form 8-K on 9-Sep-2011All Recent SEC Filings

Show all filings for DECKERS OUTDOOR CORP

Form 8-K for DECKERS OUTDOOR CORP


9-Sep-2011

Entry into a Material Definitive Agreement


Item 1.01. Entry into a Material Definitive Agreement

On September 2, 2011, Deckers Outdoor Corporation ("Deckers") entered into a Purchase and Sale Agreement (the "Purchase Agreement") for its new headquarters facility with Santa Barbara Realty Development, L.L.C., a Delaware limited liability company ("Seller"). Under the terms of the Purchase Agreement, Deckers will acquire (the "Acquisition") the property at 6601 Hollister Avenue, 6699 Hollister Avenue, 201 S. Los Carneros and 250 Coromar Drive, City of Goleta, Santa Barbara County, California, consisting of three (3) parcels on approximately 13.816 net acres of land (the "Property"). As consideration for the Property, Deckers will pay the Seller an aggregate purchase price equal to $20,428,017 (the "Purchase Price"). The Purchase Price is subject to a $500,000 credit if the close of the escrow period occurs by December 30, 2011.

The parties each made representations, warranties and covenants in the Purchase Agreement that are customary for similar transactions. In addition, the Acquisition is subject to customary closing conditions. Deckers expects to incur additional costs in connection with the Acquisition, including advisors' fees and other transaction-related expenses.

The foregoing description of the Purchase Agreement does not purport to be a complete and is qualified in its entirety by reference to the Purchase Agreement, which will be filed as an exhibit to the Company's next periodic report.


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