B$Z: Billabong Acquires Swell
November 23, 2009
Billabong Acquires Swell
Billabong International Limited today announced it has entered into a conditional agreement to acquire the United States-based online boardsports retailer Swell.com (Swell).
Swell, founded in 1999, is a leading online retailer in the US boardsport sector and sells many of the industry’s leading brands.
Financial details of the purchase remain confidential, but the transaction is not material to the Billabong Group.
Paul Naude, President of Billabong USA, said the acquisition would allow Billabong to manage its brands in the growing online market.
“We look forward to growing the Swell business and further developing it as a showcase online platform for the US boardsports industry,” he said.
“The internet plays a significant role in the recreational habits of the youth market so it is important for our Group to ensure we provide them with a premium brand experience when shopping online.”