Friday, April 20, 2007

Hit #161 (Cutter & Buck)

Cutter & Buck (CBUK), which sells golf apparel and accessories, is being bought by Sweden's New Wave Group AB for $156 million in a cash deal. The offer, of $14.38/share, makes for a gain of 21.1% over my average cost of $11.87/share.

I had mentioned Cutter & Buck as a target when Russell (Hit #90) was acquired by Berkshire. Another player mentioned in the same post, Ashworth (ASHW), remains a target and still looks attractive.

That same post had also listed then recent IPOs like Volcom (VLCM), Under Armour (UA), Zumiez (ZUMZ) etc as potential long-term buys. While all of them are trading sideways now, I am not still ready to open more than just a token position in them. Quicksilver (ZQK), on the other hand, is starting to look very attractive.

Previous hit - Mobius (#160)


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