Acquisition is set to further expand the lifestyle brand’s global footprint in new product categories.

Marquee Brands has acquired the surf, skateboard and watersports brand Body Glove and its related intellectual property assets from Body Glove International.

Under the terms of the acquisition, the Meistrell family, founders of Body Glove, will retain a minority interest in the brand and remain partners in its future growth.

"Adding to Marquee's portfolio of heritage brands, Body Glove represents what great brands are all about. While the brand is already ubiquitous and wildly successful, the opportunity to further expand its global footprint is at the core of our focus," says Michael DeVirgilio, president, Marquee Brands. "There is tremendous growth ahead for Body Glove to develop new product categories that cater to a consumer that embraces life, the outdoors and an active lifestyle."

Body Glove is the third investment for Marquee Brands, following its acquisition of Bruno Magli and British fashion brand Ben Sherman.

Additionally, Marquee Brands will open a west coast office to support the Body Glove brand management and marketing teams.

"Body Glove presents us with both the opportunity to, and responsibility for, Marquee to be stewards for the future of this American treasure. Whether it's the California vibe or the excitement of outdoor sports, Body Glove has never been beholden to styles and trends and remains an evergreen brand with its best years ahead," says Cory M. Baker, chief operating officer, Marquee Brands. "We're grateful to be entrusted with the confidence of the Meistrell family to further build Body Glove in the U.S. and around the world."