US: Podium Venture to take majority interest in Erino Clothing
Holding company Podium Venture Group has agreed to buy a majority interest in surf wear business Erino Clothing Company.
Podium expects the transaction to close after attorney review within the next ten days.
"Erino is a clothing brand that celebrates the classic surf style while capturing the spirit of the moment," said Erino president Chris Gillis.
"We have developed a model for our business that enables us to design, manufacture and sell products at a fair price; to give back to the community and environment; and promote a simple surfing lifestyle."
Podium president and CEO Jim McGinley added: "Erino has shown strong year-to-year growth, superb market penetration, and a loyal following that has really just scratched the surface of what it could be in today's explosive surfing and lifestyle markets.
"It is essential we make this acquisition now to maintain the momentum of Erino Clothing and prepare for the new line, industry trade shows, and wholesale season."
Podium specialises in the lifestyle sports market in the areas of apparel, media, and publishing and communications.
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