Surf City’s Boardriders gear up for sale as Authentic Brands makes first offer – Orange County Register
board rider We are preparing for a new wave of change.
5 years on sale Previously, we brought together some of the most iconic surf and skate brands under the Boardriders umbrella. Quiksilver, Billabong, Roxy, RVCA, DC Shoes, Element, VonZipper, Honolua.Ready for new buyers Acquisition of action sports brands.
Authentic Brands Group announced on March 31 that it had entered an “exclusive period” and made a binding offer to acquire Huntington Beach-based Boardriders from funds managed by Oaktree Capital Management.
“Through this acquisition, Authentic will strategically diversify and expand its portfolio by adding some of boardsports’ most iconic brands,” the company statement said.
The sale is still subject to closing conditions and approvals, but if all is finalized, the sale is expected to close by this fall.
According to its website, Authentic owns a portfolio of over 40 lifestyle, entertainment and media brands.
Some of the most famous names in the brand’s portfolio include Marilyn Monroe, Elvis Presley, Muhammad Ali, Shaquille O’Neal and David Beckham. It also has shoe and apparel companies Reebok, Eddie He Bauer, Spyder, Forever 21, and Nautica.
The world of action sports may be recognizing a brand it acquired years ago: Costa Mesa-based Volcom originally started the company with Richard Woolcott and Tucker Hall, a bedroom in Newport Beach. It started with the snowboarders and surfers who created it.
The sale price of the pending transaction is not specified. The New York City-based company claims annual global retail sales of approximately $24.7 billion and has retail presence in more than 150 countries.
According to the announcement, adding Boardriders to the portfolio is expected to increase annual retail sales to more than $27.6 billion.
“For more than 50 years, the Boardriders brand has built an enduring legacy by invoking the spirit of freedom, embracing exploration and connecting boardriders around the world. We have captured the hearts and imaginations of consumers by providing a unique platform for amateur athletes to unleash their creativity and truly engage with their communities.”
News of the 2018 acquisition shocked the surfing world When two longtime rivals, Billabong and Quiksilver, join the Boardriders portfolio.
Both brands have deep roots in Orange County.
Bob McKnight and Jeff Hakman purchased a US sales license in the 70s from the brand’s Australian founder, Alan Green.
in the beginning, They loaded hundreds of pairs of shorts into McKnight’s Volkswagen bus and drove to a surf shop along the coast. Their office was set up in the living room of the Newport Beach house they rented, close enough to the beach to surf in the morning and conduct business deals in the afternoon.
By the mid-80s, the brand had grown big and gone public, making over $100 million in 1990 before the recession hit. By the mid-2000s, sales reached his $2 billion across the surf, skate and snow sectors. However, with online sales and other changes in the retail industry, new challenges have arisen.
Billabong, also first made in Australia, was introduced to the US market by Bob Hurley. He bought the license rights and built a $100 million businessand 16 years later, in 1999, created his own brand, Harley. From 2019 to Blue Star Alliance.
Billabong and Quiksilver weathered the storm before Boardriders took over, filed for bankruptcy, changed management, and sought bailout from a private investment firm looking to revive the fledgling brand.
The latest sale brings together three strong action sports brands: Billabong, Quiksilver and Volcom. All of this started decades ago in a surfer’s bedroom and garage in Orange County.
Boardriders CEO Arne Arens said: “Under Authentic’s ownership, Boardriders will expand the reach of our iconic brand to millions of consumers, gain market share in our core categories, and deliver premium athleisure, training and lifestyle products. We are uniquely positioned to grow white space, including
https://www.ocregister.com/2023/03/31/surf-citys-boardriders-gears-up-for-sale-as-authentic-brands-makes-first-offer/ Surf City’s Boardriders gear up for sale as Authentic Brands makes first offer – Orange County Register
