Boardriders officially to acquire Billabong brand

Boardriders just announced that its shareholders of Billabong International Limited have approved Boardriders' proposed acquisition of Billabong.

Boardriders, Inc. currently owns and operates various sportswear brands including DC Shoes, Roxy, and Quiksilver. "We believe that this transaction represents the best value for all stakeholders – shareholders, employees, vendors and customers," Boardriders chief executive officer Dave Tanner said in a press release. Boardriders has worked to obtain various outdoor sports brands with an emphasis on surf, snow, and skate. The company's products are sold globally including 110 countries in various specialty retailers as well as Boardriders operating shops.

"We are pleased to see that the Billabong shareholders recognized this value, and have approved the proposed acquisition," Tanner stated in the release. "We have now cleared a significant milestone, and we are one step closer to creating the world's leading action sports company. We look forward to uniting the Billabong and Boardriders communities and building a foundation to better showcase and grow the action sports industry."

The transaction is set to close around April 24, subject to final approvals, according to a statement released by the company.