The word from Sporting Goods Business is that the hilariously miss-named zombie brand reanimator Authentic Brands Group (controlled by Jamie Salter) is closing in on a purchase of Quiksilver, Billabong, DC Shoes, Roxy, and Element parent company Boardriders, Inc. For those keeping track, this would make Salter the undisputed king of action sports. No one else is even close.
Authentic Brands Group has proposed a new term loan that it plans to use to support a potential acquisition of Boardriders, Inc., according to a report from Moody’s. . . Boardriders, owed by Oaktree Capital Management, has long been rumored to be on the selling block.
ABG already owns Vision Street Wear, Airwalk, and a very large piece of Volcom. And to think, he started out with the lowly Kemper Snowboards. Talk about tenacity in the business world. Someone hand Mr. Salter a medal!
[Link: SGB Online]
