Sponsors
Billabong ▼ -0.015 | PPR ▼ -5.05 | American Apparel ▼ -0.030 | The Buckle ▲ +0.12 | Columbia ▼ -0.26 | Deckers Outdoor ▼ -4.38 | Dicks ▼ -0.36 | Foot Locker ▼ -0.58 | Genesco ▼ -0.60 | Iconix Brand Group ▼ -0.46 | Jarden Corp ▼ -0.45 | Nordstrom ▼ -0.45 | Luxottica ▼ -0.41 | Nike ▼ -1.29 | Pacific Sunwear ▼ -0.05 | Skullcandy ▼ -0.07 | Sport Chalet - 0 | Urban Outfitters ▼ -0.30 | VF Corp ▼ -0.06 | Quiksilver ▼ -0.11 | Zumiez ▼ -0.27 | Macys ▼ -0.05 | Tillys ▼ -0.02 |
Ticker Sponsor
Readers Say
The one, undisputed leader
The one, undisputed leader

It is common knowledge in our industry that there is one undisputed leader in reporting on the topics, businesses and trends that impact all of us the most, and it is shop-eat-surf.com. Their access to those who make our industry happen is second to none, and we value not only the content of their reporting but the editorial thought on what it all means both in the present as well as the future. If we were asked to give a rating, it would be five out of five stars.

- By Craig Levra, CEO, Sport Chalet
Keeps me in the loop
Keeps me in the loop

Being an Executive Edition member allows me to not miss a beat when it comes to the Industry business news. Definitely keeps me in the loop plus goes great with my morning joe.

- By Tony Perez, Surfer and Surfing magazines
Industry Insight

New business info and advice from QCS GRAPHICS, PROCOPIO, SHACC and FSG LAWYERS.

Details on Industry Insight.


Tiffany Montgomery
Print This Article

Billabong makes another big retail acquisition

By
September 30, 2010 5:48 PM

Press Release:

 

GOLD COAST, 1 October 2010: Billabong International Limited today announced it has reached conditional agreement to acquire a portfolio of Australian retail assets from the General Pants Group and associated parties.

 

The 38 retail stores comprise the Surf Dive ‘n’ Ski (SDS) and Jetty Surf retail banners, along with two licensed Billabong stores.

 

Billabong chief executive officer Derek O’Neill said the acquisition brought together two businesses with a strong heritage in the surf and wider boardsports sector.

 

“SDS was one of Billabong’s earliest retail customers so we have had a strong working relationship over many decades,” said Mr O’Neill.

 

“We entered acquisition discussions with the view to preserving the assets as core boardsport retail doors and ensuring a route to market for the Group’s strong portfolio of brands.”

 

Mr O’Neill said the planned acquisition would strengthen Billabong’s retail business in Australasia, a region that already delivers the Group’s strongest retail EBITDA margins.

 

“There is good retail experience in the SDS and Jetty Surf businesses and this will complement what is already a strong retail management team in Australia,” he said.

 

“The acquisition presents the opportunity to extract significant synergies in areas including warehousing, distribution, back-office support and overall retail management consolidation.

 

“Additionally, direct retail operations greatly enhance Billabong’s visibility into the buying trends of the end consumer and assist in the speedy development and delivery of on-trend product to both Company-owned and independent retail accounts.”

 

On completion of the acquisition, the Billabong group’s global retail portfolio will comprise approximately 558 doors.

 

Mr O’Neill said the Company planned to retain both banners as multi-branded retailers.

 

The newly acquired business is expected to contribute approximately 3% of Billabong Group revenue in the 2010-11 financial year. The acquisition is expected to be EPS neutral in year one.

 

It is anticipated the transaction will complete on 1 November 2010. The purchase price has not been disclosed.


Articles You Might Have Missed