Huntington Beach-based Boardriders, retail operator of brands such as Quiksilver and Billabong, will be acquired by Authentic Brands Group this year.
The deal between NYC-based Authentic and the previous manager Oaktree Capital Management will be finalized in the third quarter of 2023 for an undisclosed amount.
The Boardriders portfolio of about seven action sports and apparel companies is said to generate retail sales of $2.9 billion through a global store count of over 500 locations with 7,000 wholesale accounts and an e-commerce network in 35 countries.
Authentic Chief Executive Jamie Salter noted the potential to establish an online marketplace for the local operator. “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,” Salter said in a statement.
Authentic oversees more than 40 businesses including Volcom, Forever 21, and Reebok, and reports annual sales of over $24.7 billion.
Boardriders announced last November plans to reorganize its operations that resulted in eliminating 170 jobs collectively in the U.S. and the Asia Pacific division.