In an interesting outcome of the DVS bankruptcy sale, Westlife Distribution, the parent company of 686 has purchased Matix Clothing from the new DVS owners Sequential Brands Group for an undisclosed amount.
Skateboarding is where I came from and I couldn’t be more stoked. We’ve been longtime fans of Matix and have solid relationships with the Dunlap brothers as well as current and former Podium employees,” said Michael Akira West, President/CEO of Westlife Distribution.
Congrats to Westlife. Matix always has been a brand with great potential and it’s good to see it land in good hands. For the official word follow the jump.LOS ANGELES, CA (July 1, 2012) – In an exciting turn of events, Westlife Distribution is pleased to announce the addition of Matix®Clothing to the increasing brand portfolio that also includes technical apparel brand, 686®. Westlife will be acquiring Matix from the Sequential Brands Group in an asset purchase which includes intellectual property, inventory and accounts receivable.
While the details of the agreement are confidential, Westlife is excited with the outcome and has big plans for Matix. “Skateboarding is where I came from and I couldn’t be more stoked. We’ve been longtime fans of Matix and have solid relationships with the Dunlap brothers as well as current and former Podium employees,” said Michael Akira West, President/CEO of Westlife Distribution.
Details are still being ironed out, but Matix will be immediately re-locating to the Westlife headquarters in Los Angeles, California. It is the goal of Westlife Distribution and Matix to make this transition as seamless as possible. All current Matix employees will be making the move, and Brian Dunlap will be fulfilling the role of President.
“I would like to give a big thank-you to all the retailers, reps and distributors that have been behind Matix for all these years and especially during these tough times,” said Dunlap, “With the Westlife structure behind us, we will be at 110% in no time. As George Herbert said, storms make the oak grow deeper roots…”
“Matix is iconic within the action sports world,” continues West, “We wanted to keep it in the family and industry. We are committed to improving the operational foundation, making superior products, working with quality retailers and growing its business over time, just like we have done with 686 for the past twenty years.”
