Authentic Brands Group closes Boardriders acquisition

Authentic Brands Group has closed on its acquisition of lifestyle and beachwear group Boardriders in a deal that was reportedly in excess of 1.25 billion dollars.

In light of the acquisition, Authentic’s annual retail sales are now believed to be above 29 billion dollars, according to WWD, which noted that prior to the takeover the group’s sales were in the 27 billion dollar region.

Authentic announced its intention to acquire Boardriders in early April, with chairman and CEO Jamie Salter stating at the time that taking on the group brought him back to his roots.

Salter notably started his career in sports marketing and had co-founded Ride snowboards back in the early ‘90s.

Now, through Boardrider, Salter has the likes of Quiksilver, Billabong, Roxy and DC Shoes under his belt, as well as the company’s 500 plus owned retail stores and 7,000 wholesale and e-commerce accounts.

His plans for the conglomerate revolve around the accelerated expansion of its shop-in-shops, branded retail stores, wholesale and e-commerce, with sights set on global scalability.

In a statement to WWD, the company noted that it would soon begin to carry out its plan to “announce a roster of best-in-class partners around the world to help drive the brands in their next stage of growth”.