ABG, the company behind the Reebok and Ted Baker brands, made a binding offer to purchase the global action sports and lifestyle company Boardriders last week, entering into a period of exclusivity.

Through the acquisition ABG strategically expands its portfolio of world-renowned superbrands with the addition of Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper and Honolua.

Boardriders is a highly diversified global business with operations across continents, including the Americas, Europe, Australia and Asia. The portfolio generates US$2.9bn in retail sales annually through a global multichannel distribution network of 500-plus owned retail stores, 7,000 wholesale accounts and e-commerce in 35 countries.

“We are thrilled to have completed the next phase of the Boardriders acquisition process,” said Jamie Salter, founder, chairman and CEO of Authentic. “The Boardriders brands are at the forefront of a growing consumer demand for authentic brand experiences, and we look forward to working with the management team to further unlock each brand’s rich heritage and reinforce their positions as leading consumer brands worldwide.”

Authentic is a diverse and multifaceted platform of consumer verticals, value-driving business models and global brands. In keeping with its brand-building approach, Authentic will leverage its global network of category experts and best-in-class operating partners to convert the Boardriders business into a licensed business model. The company is in discussions with several current and new operators in key regions to manage the manufacturing, physical retail, e-commerce and wholesale operations of the Boardriders business.

Authentic said it sees significant opportunities to accelerate the worldwide expansion of the portfolio’s branded shop-in-shops, retail stores, e-commerce and wholesale distribution as well as to establish a Boardriders online marketplace.

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“We are pleased to find a great home for Boardriders in Authentic, one of the world’s premier brand owners and marketing platforms,” said Arne Arens, CEO of Boardriders. “Our brands and business have strong equity and an established and profitable organic growth strategy in place. We are confident that Authentic will bring the expertise and resources required to drive the next phase of Boardriders’ journey.” The acquisition is subject to certain standard closing conditions, including regulatory approval, and is expected to be finalised in Q3 2023.