Boardriders secures agreement to buy all Billabong shares
05/01/2018
It claimed that the combination of Boardriders and Billabong will create “the world’s leading action sports company”. The transaction is expected to close in the first half of 2018.
Boardriders was acquired by investment group Oaktree Capital at the start of 2016. Current Boardriders chief executive, Pierre Agnes, will remain a board member but will become group president and lead the integration of the two companies. Oaktree’s managing director, Dave Tanner, is to become chief executive of the new, expanded Boardriders.
On announcing the news, Mr Tanner said: “The combination of these two leading action sports companies, which include a broad range of iconic brands with deep heritage in surf, snow and skate, is very exciting for all of us who share a passion for outdoor action sports. We are committed to preserving the autonomy, creativity, and unique cultures of all the brands while we leverage our best-in-class operating platform to accelerate the growth of the brands globally. We are excited to become one family with the Billabong team, and look forward to working together arm-in-arm to achieve the promise that this combination offers.”
It’s not yet clear if Billabong chief executive, Neil Fiske, will make the move, although Boardriders said it was keen to “discuss a potential future role” for him.
Share this story:
