French retail-to-luxury group PPR SA (PP.FR) said Monday it has launched a friendly take-over offer to buy U.S. sportswear Volcom Inc. (VLCM) for $24.5 a share, valuing the company at $608 million.

Volcom's board unanimously backed the PPR offer and recommended shareholders tender their shares to PPR, the French company said.

The price offer is 37% higher than the average trading price over the past three months, PPR said.

Volcom manufactures and sells clothes and accessories related to action sports such as surfing and snowboarding. The company will merge with PPR's sports and lifestyle unit.

-By Inti Landauro, Dow Jones Newswires; +33 1 4017 1740; inti.landauro@dowjones.com
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