Sponsors
Billabong ▼ -0.005 | PPR ▼ -1.25 | American Apparel ▲ +0.018 | The Buckle ▼ -0.38 | Columbia - 0 | Deckers Outdoor ▼ -0.22 | Dicks ▼ -0.61 | Foot Locker ▼ -0.46 | Genesco ▼ -0.28 | Iconix Brand Group - 0 | Jarden Corp ▼ -0.46 | Nordstrom ▼ -0.18 | Luxottica ▲ +0.39 | Nike ▲ +0.47 | Pacific Sunwear - 0 | Skullcandy - 0 | Sport Chalet - 0 | Urban Outfitters - 0 | VF Corp ▲ +0.47 | Quiksilver ▼ -0.027 | Zumiez - 0 | Macys ▼ -0.26 | Tillys ▲ +0.17 |
Ticker Sponsor
Readers Say
The first thing I look at
The first thing I look at

I find Shop-Eat-Surf to be a very useful and informative site that I enjoy browsing daily. Shop-Eat-Surf is the first thing I look at every morning to keep up-to-date on the latest talk, events, and happenings in the industry. I must say I am a fan of Shop-Eat-Surf.

- By Bobby Abdel, Partner, Jack's Surfboards
I waited too long to sign up for Executive Edition
I waited too long to sign up for Executive Edition

I read Shop-Eat-Surf at every opportunity, and I waited too long to sign up for the Executive Edition. It’s timely, relevant and clearly “from the industry, for the industry.

- By Andy Laats, President, Nixon
Industry Insight

AGENDA: Last chance to register before July 8-9 show.
ISPO: Shanghai trade show runs July 2 - 4.

Details on Industry Insight.


Tiffany Montgomery
Print This Article

Billabong acquires DaKine in latest buy

By Tiffany Montgomery
August 21, 2008 4:10 PM

Billabong International announced today it is buying accessories maker DaKine Hawaii, Inc.


Billabong has agreed to pay US$99.9 million, in addition to a later payment of a minimum of US$33.3 million if certain conditions are met, according to Billabong's financial statements.


"DaKine is well established within the boardsports sector and it is a brand that has built its reputation on the quality and reliability of its technical range," Billabong CEO Derek O'Neill said in a statement.


"It is a brand that is focused on function over fashion and this, together with a strong team of athletes and compelling marketing campaigns, had endeared it to active boardsports participants."


DaKine founder Rob Kaplan will remain integrally involved in the company and will work out of the brand's regional office in Maui. He said he welcomed the synergies and additional infrastructure Billabong had to offer.


The statement said all employees and the current management team will be retained and continue to work of DaKine's head office in Oregon.


DaKine is expected to contribute 4 percent of Billabong International sales in the 2008-09 financial year and is expected to be earnings per share positive in year one.


More to come later on Billabong's earnings, released today.

 


Articles You Might Have Missed