(Authentic) has announced that it has entered into a period of exclusivity and made a binding offer to purchase Boardriders, a global action sports and lifestyle company, from funds managed by Oaktree Capital Management, L.P. (“Oaktree”).
Through this acquisition, Authentic would strategically diversify and expand its portfolio by adding a variety of 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,” says Jamie Salter, founder, chairman and chief executive officer, 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 e-commerce worldwide.”
Additionally, the acquisition would include Surf Dive ‘n Ski, a lifestyle retailer in Australia with more than 80 locations and an e-commerce platform.
“We are proud of our deep connection to the global action sports community, industry-leading brands and world-class teams,” says Arne Arens, chief executive officer, 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. If all approvals are secured, Authentic’s acquisition of Boardriders would be finalized in Q3 2023.
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