I was astonished to read at the surfertoday magazine that Quicksilver had bought Billabong. Two of the most famous brands in the world of surfing and other sports such as Snowboard and Skateboarding. The American company Quicksilver has acquired the Australian firm Billabong for $299m and has been confirmed by the Australian company.
According to Surfer Today “The acquisition is made through Boardriders, the firm owned by Oaktree that controls Quiksilver, Roxy, and DC Shoes. The new combined company gives birth to the world’s leading action sports conglomerate with 630 retail stores in 26 countries, and global sales of around $2b.”
So this means that Quicksilver (officially Boardriders) will now control brands as famous as RVCA, Element, VonZipper, and Xcel as well. And if anyone had any doubt the buying company said that “We are committed to preserving the autonomy, creativity, and unique cultures of all the brands while we leverage our best-in-class operating platform to accelerate the growth of the brands globally.”
Billabong was founded in 1973 and experienced decades of welfare but the international crisis of 2008 really impacted them and ten years later, in 2018, one of the co-founders named Gordon Merchant, who owns 12.8 percent of the shares in Billabong, voted in favor of the business deal.