Authentic Brands to acquire Boardriders
The deal would include the acquisition of the entire Boardriders portfolio, including Quicksilver, Billabong, Roxy, DC Shoes, RVCA and others
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Global brand development Authentic Brands Group has made a binding offer to acquire Boardriders, a global action sports and lifestyle company, from funds managed by Oaktree Capital Management, L.P.
The group said that the deal would diversify and expand its portfolio with the addition of the Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper and Honolua brands.
Jamie Salter, founder, chairman and CEO of Authentic, said: “Along with the great brands and impressive global reach that will come with this acquisition, we see Boardriders’ potential as a thriving online marketplace under Authentic’s ownership. With Boardriders’ proven retail playbook, we also see tremendous opportunities to accelerate the expansion of its shop-in-shops, branded retail stores, wholesale and e-commerce worldwide.”
Boardriders is a highly diversified global business with operations across continents, including the Americas, Europe, Australia and Asia. The portfolio generates $2.9bn (£2.3bn) in retail sales annually through a global multichannel distribution network of 500-plus owned retail stores, 7,000 wholesale accounts and e-commerce in 35 countries.
The deal is expected to be finalised in Q3 2023 after certain standard closing conditions are approved.
Arne Arens, CEO of Boardriders, said: “Under Authentic’s ownership, Boardriders will be uniquely positioned to expand the reach of our iconic brands to millions of consumers, capture market share in our core categories and grow white spaces, including premium athleisure, training and lifestyle.”
