Authentic Brands Group completes Boardriders family acquisition
Authentic Brands Group, which owns retailers including Ted Baker, Reebok, and Hunter, has secured a takeover of the Boardriders group, along with its subsidiaries including Quiksilver and Billabong.
Other brands in the acquisition include RVCA, DC Shoes, Element, VonZipper, and Honolua.
The brand group was acquired from Oaktree Capital Management for a deal worth in excess of $1.25bn (£996m). The purchase brings Authentic Brands Group’s annual retail sales to around $29bn (£23bn).
In June, Authentic Brands Group secured $500m (£394.1m) in funding from one of its existing investors, global equity firm General Atlantic. This brought the firm’s total investment capital in the retail group to nearly $2bn (£1.58bn). The investment was made to aid the group’s global expansion.