Authentic Brands Group, the brand development, entertainment and marketing platform, has signed a definitive agreement to acquire sports and lifestyle group Boardriders as it looks to diversify its portfolio.
In a statement, Authentic said the acquisition will expand its portfolio, featuring Reebok, Ted Baker and Juicy Couture, to include Boardriders’ board sports brands, including Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper and Honolua.
Boardriders is a highly diversified global business, generating 2.9 billion US dollars in retail sales annually through a global multichannel distribution network of 500-plus owned retail stores, 7,000 wholesale accounts and e-commerce in 35 countries across the Americas, Europe, Australia and Asia.
Jamie Salter, founder, chairman and chief executive of Authentic, said: “We are thrilled to have completed the next phase of the Boardriders acquisition process. The Boardriders brands are at the forefront of a growing consumer demand for authentic brand experiences, and we look forward to working with the management team to further unlock each brand’s rich heritage and reinforce their positions as leading consumer brands worldwide.”
Authentic to turn Boardriders into a licensed business model
Authentic said that it expects the transaction to be finalised in Q3 2023 and it will leverage its global network “of category experts and best-in-class operating partners” to convert the Boardriders business into a licensed business model.
The company added that it is already in discussions with several current and new operators in key regions to manage the manufacturing, physical retail, e-commerce and wholesale operations of the Boardriders business.
The brand development, entertainment and marketing platform also sees “significant opportunities” for Boardriders, including accelerating the worldwide expansion of the portfolio’s branded shop-in-shops, retail stores, e-commerce and wholesale distribution, as well as plans to establish a Boardriders online marketplace.
Arne Arens, chief executive of Boardriders, added: “We are pleased to find a great home for Boardriders in Authentic, one of the world’s premier brand owners and marketing platforms.
“Our brands and business have strong equity and an established and profitable organic growth strategy in place. We are confident that Authentic will bring the expertise and resources required to drive the next phase of Boardriders’ journey.”