Authentic Brands has taken the next step forward in its takeover of Boardriders by signing a definitive agreement to purchase Boardriders.
“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 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 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.
“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 finalized in Q3 2023.