By Gary Symons
TLL Editor in Chief
Updating our story last week, Authentic Brands Group has signed a definitive agreement to purchase Boardriders.
Through the acquisition Authentic strategically expands its portfolio of world-renowned superbrands with the addition of the most iconic brands in board sports including Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper and Honolua.
“We are thrilled to have completed the next phase of the Boardriders acquisition process,” said Jamie Salter, Founder, Chairman and CEO of Authentic. “The Boardriders brands are at the forefront of a growing consumer demand for authentic brand experiences, and we look forward to working with the management team to further unlock each brand’s rich heritage and reinforce their positions as leading consumer brands worldwide.”
Authentic is a diverse and multifaceted platform of consumer verticals, value-driving business models and global brands. In keeping with its brand-building approach, Authentic will leverage its global network of category experts and best-in-class operating partners to convert the Boardriders business into a licensed business model. The company is in discussions with several current and new operators in key regions to manage the manufacturing, physical retail, ecommerce and wholesale operations of the Boardriders business.
Authentic says it sees significant opportunities to accelerate the worldwide expansion of the portfolio’s branded shop-in-shops, retail stores, ecommerce and wholesale distribution as well as to establish a Boardriders online marketplace.
“We are pleased to find a great home for Boardriders in Authentic, one of the world’s premier brand owners and marketing platforms,” said Arne Arens, CEO of Boardriders. “Our brands and business have strong equity and an established and profitable organic growth strategy in place. We are confident that Authentic will bring the expertise and resources required to drive the next phase of Boardriders’ journey.”
The acquisition is subject to certain standard closing conditions, including regulatory approval, and is expected to be finalized in Q3 2023.
TLL’s Original Story on the Boardrider’s acquisition, published April 4, is posted below:
Authentic Brands says it has made a binding offer to purchase the sports and lifestyle company Boardriders.
The deal includes Boardriders full portfolio of brands, including Quiksilver, Billabong, Roxy, RVCA, DC Shoes and Element. If the bid is successful, those brands will soon join Authentic’s roster of world-renowned superbrands.
ABG says the acquision would strategically diversify and expand its portfolio with the addition of the most iconic brands in board sports, including Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper and Honolua.
“As an early believer in the global and commercial appeal of action sports, this brings me back to the roots of my early career,” said Jamie Salter, Founder, Chairman and CEO of Authentic. “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 ecommerce worldwide.”
Salter says that, for more than 50 years, the Boardriders brands have built a lasting legacy by awakening the spirit of freedom and connecting boardriders around the world. Each brand in the portfolio has captured the imaginations of consumers by providing a unique platform for professional and amateur athletes to express their creativity and engage with their communities.
What started out as a niche designer for the growing boarding community a half century ago is now a highly diversified global business with operations across four continents, including the Americas, Europe, Australia and Asia. The portfolio generates $2.9 billion in retail sales annually through a global multichannel distribution network of 500-plus owned retail stores, 7,000 wholesale accounts and ecommerce in 35 countries. Additionally, the acquisition would include Surf Dive ‘n Ski, a leading lifestyle retailer in Australia with more than 80 locations and a robust ecommerce platform.
“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.”
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. In the event that all approvals are secured, Authentic’s acquisition of Boardriders would be expected to be finalized in Q3 2023.
In the event that all approvals are secured, Authentic’s acquisition of Boardriders would be expected to be finalized in Q3 2023. Adding the various Boardriders’ brands to the Authentic portfolio is expected to increase its systemwide annual retail sales to more than $27.6 billion and retail footprint to more than 11,100-plus freestanding stores and shop-in-shops globally.
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