Through this acquisition, Authentic said it would strategically diversify and expand its portfolio with the addition of "the most iconic brands in board sports".
Jamie Salter, founder, chairman and CEO of Authentic commented, “As an early believer in the global and commercial appeal of action sports, this brings me back to the roots of my early career. Along with the great brands and impressive global reach that will come with this acquisition, we see Boardriders’ potential as a thriving online marketplace under Authentic’s ownership.
“With Boardriders’ proven retail playbook, we also see tremendous opportunities to accelerate the expansion of its shop-in-shops, branded retail stores, wholesale and e-commerce worldwide.”
For more than 50 years, brands in the Boardriders portfolio have provided unique platforms for professional and amateur athletes to express their creativity and engage with their communities, the companies said in a joint statement.
Today, Boardriders is a diversified global business with operations across continents, including the Americas, Europe, Australia and Asia. The portfolio generates $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.
Additionally, the acquisition would include Surf Dive 'n Ski, a prominent lifestyle retailer in Australia with a fleet of more than 80 locations and a robust e-commerce platform.
“We are proud of our deep connection to the global action sports community, industry-leading brands and world-class teams,” said Arne Arens, CEO of Boardriders. “Under Authentic’s ownership, Boardriders will be uniquely positioned to expand the reach of our iconic brands to millions of consumers, capture market share in our core categories and grow white spaces, including premium athleisure, training and lifestyle.”
The acquisition is subject to the consultation of certain Boardriders employee representatives, the signing of the definitive agreement and certain standard closing conditions and approvals. If all approvals are secured, Authentic’s acquisition of Boardriders would be expected to be finalised in Q3 2023.