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HUF Worldwide Announces Sale to TSI Holdings Co.

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HUF Worldwide, (HUF), a leading skate and streetwear brand, has signed an agreement for it to be sold to TSI Holdings, a Japanese company managing a portfolio of leading apparel brands. The transaction is expected to close by December 15. 

HUF, founded by Keith Hufnagel as a skate hard-goods and apparel shop in San Francisco, developed its own label into one of the most sought after brands in the skate and streetwear communities. In 2014, the company partnered with investment firm, Altamont Capital Partners to support its growth and has continued to expand its business under Altamont’s ownership. The HUF Worldwide company includes the Lakai Limited Footwear brand - also part of the transaction. 

Commenting on the deal, Steve Holley, HUF CEO said, “TSI is a great strategic partner and brand platform for HUF. The transaction gives us immediate access to the broader global marketplace in a way that would take us many years to achieve on our own. We are excited for HUF’s future as part of TSI.”

Hufnagel added, “We’ve had a long relationship with TSI as our distribution partner in Japan. I have total confidence that they understand HUF as a brand and that we will be able continue to create amazing product, which is the most important thing to me. I also want to thank Altamont and the team there for all of their support – they have been great partners.”

According to Tadashi Saito, President of TSI, “The acquisition of HUF is a key pillar in our strategy for global expansion and we are very excited to conclude this deal. We see huge potential for HUF both in the U.S. domestic market and throughout Asia. We believe HUF’s irreverent DNA has the power to transcend cultures and borders and therefore has truly universal appeal.”


Under TSI, HUF will operate as an independent global company and will continue to be led by Keith Hufnagel (Founder), Steve Holley (CEO) and Jon Brubaker (CFO). HUF global headquarters will continue to be located in Irvine, CA and creative offices will continue to be located in Downtown Los Angeles.

To facilitate the transaction, William Blair & Company, L.L.C. acted as the exclusive financial advisor and Ropes & Gray provided legal advice to HUF and Altamont Capital Partners on the transaction.

Lincoln International served as financial advisor and Wilson Sonsini Goodrich & Rosati acted as legal counsel to TSI Holdings.

About HUF

Founded in 2002 by professional skateboarder Keith Hufnagel, HUF is a Los Angeles based manufacturer of premium footwear and apparel designed for contemporary skate and lifestyle. Inspired by Keith’s unique experiences traveling the globe as a skateboarder—and represented by a world-renowned skate team & group of ambassadors—the clean, classic brand aesthetic of HUF embodies a diverse array of cultural inspirations and ideas.


Made by skateboarders, for skateboarders, HUF represents not only a more refined and forward-thinking skateboard brand, but also any individual inspired by the vast array of countercultures that parallel skateboard mentality. 

About TSI Holdings

TSI Holdings is one of Japan’s leading apparel companies with a portfolio of over 40 brands and over 2,000 retail points of sale throughout Japan and Asia. TSI Holdings (TSE 3608) is a public company traded on the First Exchange of the Tokyo Stock Exchange.

About Altamont Capital Partners

Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area. Altamont is focused on investing in businesses where it can partner with leading management teams to help the companies reach their full potential. The firm’s principals have significant experience building business success stories across a range of industries.

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