Authentic Brands Group, a global brand development, marketing and entertainment platform, has announced that it has entered into a period of exclusivity and made a binding offer to purchase Boardriders, a global action sports and lifestyle company, from funds managed by Oaktree Capital Management, L.P. (“Oaktree”). Through this acquisition, Authentic would strategically diversify and expand its portfolio with the addition of the most iconic brands in board sports, including Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper and Honolua.

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. In the event that all approvals are secured, Authentic’s acquisition of Boardriders would be expected to be finalized in Q3 2023.