The Balter Boys Get Paid, B Corps, Boardriders Acquisition + More  - Stab Mag

Live Now: How Surfers Get Paid — The Queens of Ascension

0 View

The Balter Boys Get Paid, B Corps, Boardriders Acquisition + More 

Plus more industry news: St Archer no more, Red Bull and Oakley thin the aged.

// Mar 7, 2023
Words by Ethan Davis
Reading Time: 4 minutes

So far, 5549298 seconds have lapsed since the start of 2023, roughly 25 million remain. 

A lot can happen in a year, and the reason for that is simple – everything changes and everything ends

Let’s discuss the opening 10-ish weeks in surf industry news.

Balter’s $200 million pay day 

The Balter boys have cashed in the second of the (30-40-30 percent) three part installment after selling to Carlton United Breweries for an estimated $200 million in 2019. Balter’s investors include the likes of Bede Durbidge, Josh Kerr, Joel Parkinson and Mick Fanning who have since divvied up the windfall in the largest surfer-owned alcohol sale in history. The five year earn out period will close in 2025, when they can collect the remaining 30% ($60 million).

Prior to Balter’s founding in 2016, Josh Kerr and Taylor Steele were heavily invested in Saint Archer Brewery, an American beer startup that sold for upwards of $USD70 million to MillerCoors in 2015. High off that success, Kerr dropped a chunk of his Saint Archer cash straight back on the Australian brand, Balter – repeating a similar playbook much to the dismay of Saint Archer Founder, Josh Landan. These dual sales made Kerrzy one of the wealthiest professional surfers, making him 2-for-2 on big beer ventures. Interestingly, Saint Archer was discontinued in 2022 with MillerCoors VP citing the brand’s ‘slow growth’ before pulling them from market.

For Bede’s 40th in late February this year and fresh of the leaves landing in his account – the three time CT winner and World Title runner-up (2008) celebrated by hosting a Bliss N Eso blowout on his Gold Coast home – a private rendition of ‘The Sea Is Rising’ will set you back anywhere between $20,000-$30,000 – a timely reminder that Oz Rap is still kicking round the traps of millennials.

Leisure Collective joins Patagonia + Rip Curl with B Corp certification

‘A principle isn’t a principle until it’s cost you something,’ said American advertising icon, Bill Bernbach. In a time of widespread greenwashing with many businesses dressing up questionable environmental practices with meaningless self-mastubatory beach clean-up days, B Corp certification is the corporate version of having a ‘good hard look at yourself’ before going on a twelve-month silent retreat/juice cleanse. 

Credit: The New Yorker

Following in the footsteps of Patagonia and Rip Curl, the Leisure Collective – the parent company of: Creatures of Leisure, OTIS eyewear, Sito and Layday has been granted B Corp status. What does that mean? Harvard Business Review does a great job of breaking down B Corps in detail here. The short of it is: a company needs to show value for non-shareholding stakeholders, such as their employees, the local community, and the environment. Once a firm crosses a certain performance threshold on these dimensions, it makes amendments to its corporate charter to incorporate the interests of all stakeholders into the fiduciary duties of directors and officers. These steps demonstrate that a firm is following a fundamentally different governance philosophy than a traditional shareholder-centered corporation.

A small w for the planet. 

Authentic Brands re-emerge as frontrunners in Boardriders acquisition

Authentic Brands Group is reportedly back in the mix to acquire Boardriders after the exclusivity period for Bluestar Alliance expired without a deal, according to Shop-Eat-Surf. Bluestar Alliance, which owns Hurley, conducted extensive due diligence on Boardriders, including visiting some international territories.

Authentic, which owns Volcom and more than 40 other brands, is one of the world’s leading licensing companies. ‘Industry retailers thus far have been happy with Authentic’s stewardship of Volcom, which has not changed distribution strategies since being acquired by Authentic in 2019,’ again according to SES.

Bloomberg has put the estimated buyout figure at $1.3 billion for the house of Quiksilver, Billabong, Roxy, RVCA, DC, Element and Vonzipper – with whispers of a deal closing within the week.

ABG’s brands include that of Shaq, Ali, Beckham, Volcom + 44 others

Julian Wilson & Mateus Herdy dropped by Red Bull, Kolohe Andino by Oakley

The young crop of female talent coming through is obvious and exciting, and at least from a surf marketing lens, the same cannot be said for young male surfers. Sierra Kerr, Caity Simmers, Molly Picklum, Sky Brown – have all inked deals with Red Bull. The male generation that previously inked deals with energy drink brands – Kolohe Andino, Jordy Smith, Conner Coffin, Julian Wilson et al all signed deals around the same age – at a time when there was major spotlight on them as up-and-coming title threats. 

No business has an infinite budget, every business has to make hard decisions. In this sense choosing between a guy middle aged with kids or a mid-twenty year old with multiple CT wins in the past year is easy. Red Bull ultimately ushered in Jack Robinson and Griffin Colapinto and let go of Julian Wilson and Mateus Herdy. Two in, two out.

Kolohe left Oakley to go to Bong and VZ and then resigned with Oakley when he signed with Nike.

Historically, Oakley and Red Bull have very similar taste in talent – namely youthful, top-tier competitors on the world tour – Italo Ferreira, Griffin Colapinto, Jordy Smith, Sierra Kerr, Caroline Marks, Kanoa Igarashi all currently sport the Oak-Bull sticker combo. Oakley, whose most recent signings include 9 and 11-year old Europeans – let go of Kolohe Andino at the start of the year – who first signed with them not long after his birth.

On Sam Mc’s recent trip to the Rock collecting HSGP season 2 interviews – Brother, just dropped – went out and purchased a pair of Ray Bans. He was elated with his new shades before realizing Ray Bans and Oakley are owned by the same company, Luxottica Group Co. “Fuck, I just gave my cash straight back to them,” he laughed

Comments

Comments are a Stab Premium feature. Gotta join to talk shop.

Already a member? Sign In

Want to join? Sign Up

Advertisement

Most Recent

“I Haven’t Seen Anyone That Young And That Keen For Heavy Waves In A Decade” —Shane Dorian

Jacob Turner is 16 years old and trying to paddle tow sets at Teahupo'o...on his…

Jun 12, 2024

Long Read: 1,000 Ways To Die In Indonesia

18,000 islands of beautiful people, world-class waves, and danger around every corner.

Jun 11, 2024

Watch: Craig Anderson And Kaito Ohashi Find (Mostly) Empty Waves In Southeast Asia

Oh, and enter to win a grand worth of DB gear.

Jun 11, 2024

Brad Gerlach Rode A 600cc Motorbike Through Europe’s 1980’s Psychedelic Renaissance  

"Fuck London. Let’s just buy motorcycles tomorrow and drive to France, man."

Jun 11, 2024

Caroline Marks Goes Two-In-A-Row And John John Florence Wins First CT Event Since 2020 At The Surf City El Salvador Pro

Plus, we asked Chris Cote for a look into the commentary team's psyche and Griff…

Jun 9, 2024

Why Is Mavericks Core Getting Overrun By Yuppies?

And other questions from our audience — answered by Pete Mel, Mick Fanning, and Joel…

Jun 9, 2024

Everything Worth Remembering From 4 (Mostly) Forgettable Quarterfinals In El Salvador

Plus, what's the consensus on the Griff vs. João kerfluffle?

Jun 8, 2024

Wildcard Big-dogs Italo, Yago Pops The Cork, And Griffin Cops An Ambiguous Interference On Day 2 In El Salvador

"Honestly, that was a bad... uhh I mean, a tough call." - Strider

Jun 8, 2024

Let’s Talk About This Griffin Interference…

"Don't hate the player, hate the game." - Joao Chianca.

Jun 8, 2024

Chippa Wilson Picks The Air Section We’ll Be Using For Stab High Japan Presented By Monster Energy

PerfectSwell Shizunami has 4 ramps to choose from — which one excites our 2019 champ?

Jun 8, 2024

JJF And Yago Soar, Brisa And Molly Sear, And Olympic Surfers Get Drug Tested On Day 1 Of Surf City El Salvador Pro

"These rocks are like basketballs covered in slime."

Jun 7, 2024

Cheat Codes: Optimizing Surfing’s Pain-To-Joy Ratio With Mason Ho

How to keep your skull intact, your forecast accurate, and your morale unbothered — no…

Jun 6, 2024

El Sal Fits: Wear it

A Surf City Punta Roca Pro preview. 

Jun 5, 2024

Everything You Need To Know About Stab High Japan Presented By Monster Energy

Who, when, where, and how to watch.

Jun 5, 2024

Are We About To Finally See A Properly Pumping Punta Roca Event?

San Diego’s working class foamball authority offers his predictions. 

Jun 5, 2024

Watch: Julian Wilson Is Still Clearly One Of Our Planet’s Best Surfers 

His new edit, 'Surf Rehab' is more like a surf bender in Indonesia. 

Jun 4, 2024

Welcome To Surfing, Ryan Crosby

An open letter to the World Surf League's new CEO, from a diehard surf fan.

Jun 4, 2024

Can Ian Crane And Chippa Wilson Catch A Wave In The Ocean And The Pool In 10 Minutes?

2 birds, 1 GoPro.

Jun 4, 2024
Advertisement