Authentic Brands Group to acquire parent of Quiksilver, Billabong
Authentic Brands Group is looking to add a 500-store company to its expanding retail portfolio.
The brand owner and management firm said that it has entered into a period of exclusivity and made a binding offer to purchase action sports and related lifestyle apparel company Boardriders from Oaktree Capital Management. Financial details of the deal, which is expected to close in the third quarter, were not disclosed.
Based in Huntington Beach, Calif., the Boardriders portfolio includes Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper and Honolua.
The company has operations around the world, including the Americas, Europe, Australia and Asia. It generates approximately $2.9 billion in retail sales annually through a multichannel distribution network of 500-plus owned retail stores, 7,000 wholesale accounts and e-commerce in 35 countries, according to Authentic.
Additionally, the acquisition would include Surf Dive 'n Ski, a leading lifestyle retailer in Australia with a fleet of more than 80 locations and an e-commerce platform.
Adding the Boardriders brands to the Authentic portfolio is expected to increase the company’s systemwide annual retail sales to more than $27.6 billion and expand its retail footprint to more than 11,100-plus freestanding stores and shop-in-shops globally. It follows the company’s October 2022 acquisition of London-based.
“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,” said Jamie Salter, founder, chairman and CEO of Authentic, whose brands include Reebok, Eddie Bauer, Nautica and many more. “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.”
The acquisition is subject to the consultation of certain Boardriders employee representatives, the signing of the definitive agreement and certain standard closing conditions and approvals.
“We are proud of our deep connection to the global action sports community, industry-leading brands and world-class teams,” said Arne Arens, CEO of Boardriders. “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.”
BofA Securities and Goldman Sachs are acting as financial advisors and Latham & Watkins LLP is acting as legal advisor to Authentic. Moelis & Company LLC is acting as a financial advisor and Kirkland & Ellis LLP is acting as legal advisor to Boardriders and Oaktree.
Based In New York City, Authentic owns a portfolio of more than 40 lifestyle, entertainment and media brands, which generate approximately $24.7 billion in global annual retail sales. Its retail footprint spans more than 150 countries, including 10,800-plus freestanding stores and shop-in-shops and 379,000 points of sale. In October, Authentic completed its acquisition of British lifestyle brand Ted Baker
Authentic’s brand portfolio includes Eddie Bauer, Reebok, Barneys New York, Brooks Brothers, Ted Baker, Forever 21, Juicy Couture and more.