Billabong Snatches Up West 49

Here we thought Billabong was busy buying RVCA and then they announce that they’ve just purchased West 49, the Canadian action mall retailer (the Zumiez of Canada) for $94.3 million, according to a story on Reuters.

The company said the acquisition of the 138 primarily mall-based retail outlets operated by West 49 will help boost its earnings in 2011. . . .”West 49 is a complementary business and promises to be an ideal Canadian distribution platform for Billabong to showcase its brands and extend its reach,” Billabong Chief Executive Derek O’Neill said in a statement.

In a Globe & Mail story West 49 CEO Sam Baio explained the sale like this:

“It makes sense today for powerful brands like Billabong to own retail stores,” Mr. Baio, who will remain chief executive officer of West 49, said in an interview. “I think we could safely say that we would want to grow the exposure of Billabong stores. We would definitely expand the Billabong concept into markets we’re not in yet.”

Way to own the channel. . .To recap Billabong’s retail march they now own: Beach Works, Honolua Surf Company, most of Australia’s Surfstitch.com, all of Swell.com, Becker Surf, plus their Billabong branded stores.

[Link: Reuters via Sports One Source and Globe & Mail]