A 10-day period of exclusive talks to sell the parent of Irvine-based Billabong USA were extended last week into May.
Australia-based Billabong International Ltd. is in talks with a group led by its Americas president, Paul Naude, and New York private equity firm Sycamore Partners Management. The consortium has offered $299 million for the surfwear company, which owns a stable of apparel and retail brands, including RVCA, Element and Dakine.
Billabong said the group requested an additional 10 days, ending May 8. But the company reiterated in a statement that the extension doesn’t guarantee a deal will be struck.
―Kari Hamanaka
