Boardriders Purchase Delayed, Licensees Named
Word on the street!
A few weeks ago, we published a story detailing the many updates on the $1.25 billion acquisition of Boardriders by Authentic Brands Group. You can read that here.
Yesterday, word came out via ShopEatSurf that the anticipated closing date has been moved back to August 31st, a delay from the original late July timeline. Allegedly, this delay has come as a result of regulatory procedures in Australia.
Additionally, in a recent meeting, some of the licensees — the companies who will decide what to do with each brand moving forward —were announced.
“These include O5 Apparel for Quiksilver wholesale, and several for Roxy in different categories, including Aldo for footwear, the Levy Group for Roxy swim, and 2253 for sportswear. The license for kids’ for all of the brands will reportedly go to Centric Brands. No licensing partners were named for DC or VonZipper at the meeting.
Employees were also told that Liberated Brands was expected to get Billabong men’s and women’s and RVCA. In addition, Liberated will likely get the DTC business for those brands in the U.S., along with DTC for Quiksilver, Roxy and Honolua. However, the Liberated deal has not yet been signed, according to information provided.”
If you recall, Liberated Brands is the coalition of long-term Volcom executives which currently holds the ABG license for Volcom.
Unfortunately, this delay means continued uncertainty for those whose jobs hang in the balance.
For our full breakdown on the tectonic sale, click here.
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