Shimano Purchases Pearl Izumi From Nautilus

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The worst kept secret in footwear business is that consolidation is de rigeur for the marketplace. Last year, it was Saucony, the year before Reebok and Etonic, and now, Pearl Izumi.

Pearl Izumi has been picked up by Shimano, which should be a superb combination. Pearl's apparel is highly regarded in the bicycling community and Shimano is saying that Pearl Izumi running will have the support and home it needs.

Pearl's running product has come along way and last year, their ad campaign, branding Pearl as a real running product, and branding the Run Like an Animal caught on with opinion leaders in the sport. We have attached the entire press release:


SHIMANO PURCHASES PEARL IZUMI FROM NAUTILUS, INC.

IRVINE, Calif. USA 2/19/08 -- Bringing premium sports apparel and
footwear to its offering of industry-leading cycling and fishing
products, Shimano has completed its purchase of DashAmerica, Inc. (dba
Pearl Izumi USA, Inc.) from Nautilus, Inc., announces David Pfeiffer,
president of Shimano American Corporation. Pearl Izumi becomes a wholly
owned subsidiary of Shimano's U.S. operations, and will continue to
operate from its facilities in Broomfield, Colorado and Kirchzarten,
Germany.

"The acquisition brings together two companies started by
Japanese families who share a passion for cycling," said Pfeiffer. "Both
have strong research and development backgrounds, offer industry leading
innovations, and share an obsession with quality and performance. We'll
continue to build the respective brands and remain dedicated to the
healthy independent dealer networks we've both enjoyed."

Pfeiffer also noted that Pearl Izumi would be maintained as
a stand-alone company with its own management team.

"Pearl Izumi is a leader in the performance sports apparel and footwear
market, and we plan to keep them in that position," Pfeiffer said.
"Pearl Izumi's design expertise creates products for the avid cycling
and running enthusiasts and we'll provide Juergen Eckmann (Pearl Izumi's
president) and his team with all of Shimano's support and resources
needed to continue that tradition."

Eckmann said the acquisition is a great fit for both companies. "The
entire team at Pearl Izumi USA and Europe are excited about
opportunities and benefits we gain in becoming part of Shimano," said
Eckmann. "Shimano provides knowledge and expertise which will make our
brand stronger and we in turn have a great deal of experience in
performance apparel, fabric technologies and run footwear that Shimano
did not previously possess."

As part of a broad dual brand strategy, Pfeiffer states that
Shimano will continue to offers its branded apparel and cycling footwear
along with the Pearl Izumi apparel and cycling footwear in all markets.

Shimano's acquisition includes Pearl Izumi's facility in Kirchzarten,
Germany, and the rights to Pearl Izumi sales and distribution throughout
North and South America, Europe, Australia and select other countries.
Pfeiffer notes the purchase does not include sales and distribution
rights of Pearl Izumi branded products in Japan and most of Asia.

Shimano American Corporation is the U.S.-based subsidiary of
Shimano, Inc. a multi-national manufacturer of bicycle components and
fishing tackle. It now has operations in Irvine, Calif., Woodland,
Wash., Broomfield, Colo., Peterborough, Ontario, and Kirchzarten,
Germany.

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