Authentic Brands Surfs In For Quiksilver Owner Boardriders
US brand owner Authentic Brands Group (ABG) has acquired Boardriders, the owner of Quiksilver, Roxy and DC Shoes, for $340m.
Quiksilver owed over $500m in debt
Quiksilver, which was founded in Australia in 1976, owed over $500m in debt at the time of the acquisition. The deal will allow it to emerge from bankruptcy protection, which it filed for in 2018. ABG acquired Boardriders’ equity and existing debt, providing additional liquidity to support the company’s operations and strategic investments.
Expanding portfolio of action sports and streetwear brands
The acquisition expands ABG’s portfolio of action sports and streetwear brands, which already includes Levi’s Vintage Clothing, Driver Era, Global ropes and _GAULOISES_. Quiksilver, Roxy and DC Shoes are globally recognisable brands within those categories.
New strategic partnership
Commenting on the deal, Jamie Salter, founder, chairman and CEO of Authentic Brands Group said: “Quiksilver, Roxy, and DC Shoes are iconic and innovative brands that have driven the action sports and youth culture categories. We are thrilled to establish a new strategic partnership to support their growth and continued success.”
Paul Naudie, president of Quiksilver Americas, added: “The action sports industry has always been passionate about creative and progressive brands. We believe ABG’s ownership and investment will allow us to grow our brands globally through innovation, product development and strategic partnerships.”
