Rejected a takeover bid 4 times as much just five years ago and other salacious insights!
Yesterday, alongside sister publication The Wall Street Journal, we broke* exclusive** news of Quiksilver’s acquisition of former rival Billabong and today we have more information on the blockbuster deal through our partners at the BBC. Quiksilver’s official business name was changed to Boardriders last year and took over the company which was valued at $155 million. And when I write “Quiksilver” or “Boardriders” I mean Oaktree Capital.
According to the report, Billabong lost $58 million dollars in 2017, only made a profit during one of the past five years. Also, Billabong rejected a takeover bid in 2012 that was worth four times the amount agreed to yesterday.
Chief Executive Neil Fiske said,”Billabong’s brands’ great strength is their authenticity and heritage. I’m confident those qualities will not simply be protected but enhanced by a new organisation that will have the scale and financial security to continue to support and build them as we enter into a new and dynamic retail environment.”
I have many questions. Like, where did Billabong’s 53 million dollars go? And how much both Andy Warhol and Iggy Pop were responsible for? And if Italo Ferreira gets cut due “cost saving measures” will Quiksilver scoop him up?
And, in these corporate takeover scenarios, does the word “synergies” mean the same thing as “lay-offs”? And the stock market has been soaring for the last few years. Is the surf industry immune to good times?
And how long before Quiksilver and Billabong appear exclusively at Target?
Many questions.
Do you have answers?
* Stab recently claimed they “broke every single WSL story” of 2017 apparently changing the definition of the word “broke.”
** BeachGrit will attempt to do the same thing for the word “exclusive” this year.
Well don’t leave us in ignorance Freakin Haole! I would really like to know more about this. [email protected] is just one of the many ways in which you can help me understand more. I don’t know about other media sources but I think it’s not a question of being silenced as not knowing, or not being interested enough to find out.
What fucking juggernaut? This Sydney one is based on an old three decker parking lot, it’s solid concrete, it’s gonna take a fortune to demolish, that’s why this crew got a shot at it, the Olympic Park authority didn’t want to do the demolishing themselves. It was originally “slated” to open in late 2016, now it is “slated” to open in 2020. Any bets? NLand as you say is shuttered, seemingly as a result of winter, revelation! Has any of these wannabe wave pool billionaires thought of winter? You know the time of the year where any non core surfer forgets about surfing because snow and cold? What a great place Tullamarine Airport is in winter for instance! A pool there is gonna kill it!! Two others right now aside from Wavegarden HQ, Snowdonia which found out about winter as well, and the KSWC at Lemoore which is so infinitely in another league it’s not funny, actually already has its billionaire, and since you’re not allowed to surf there, it’s scarcely a Juggernaut. Hmm what else, ah yeah Webber’s one and the Surf Lakes one which both reckon are in full size dummy build mode, given Kelly’s and Co’s experience they have very likely got a hell of a while and a lot more money to spend yet. They’re all few of. em sweating on the Olympics and hoping China and whomever else will buy pools off ’em. What the hell kind of a shitty bet is that? christ. Meanwhile everyone is all “QuikBong!” like nobody had ever thought of this work of verbal genius, but they are forgetting that these two companies are still selling a billion plus dollars of actual product every single year, you know, not Wavepool Bitcoin but actual Money that people pay for stuff.
It’s not a question of standing in front a wave pool juggernaut, it’s more a question of shaking your head at the vast whirlpool of bullshit forming around it.
Damn Nick! Slaying fools! That’s worth a shot of Whiskey!
Cheers
honestly sometimes I just lose all patience.
“which found out about winter as well,”
LOL!!
Fuck, tell me more. I’m so far away from Austin! The last thing I read about NLand was how Scott Bass’s mate broke his leg in the “shorebreak”.
Let us not forget that RVCA is also owned by Billabong and they appear to be sponsoring everybody under the Sun from boxers, graffiti artist ,Surfers Jiu-Jitsu guys to tattoo artist and they just came through Hawaii and did remodels to all kinds of fitness centers and gyms branding them as RVCAsport? So how do they afford all that if Billabong is bleeding money?
There was a 20% cut in corporate tax this is why companies not just in the surf industry but in all industry’s are getting bought out left and right this week. Even tho billabong is losing money they just saw a 20% increase in cash flow. Might as well buy them now if you have any hope in the future of the market which board riders clearly does.
Surfing needs these non surfing “benefactors” to ensure the viability of our great Olympic sport.
All i know is you won’t find either “Quik or Bong” covering my dermis… ever again.. Really have very little desire to wear such clothing. Conscious of subconscious whoring!
I’d love to see some analysis on who is actually making money in surf these days.Surely someone must be making a buck – apart from the pleistocene era “too big to fail brands”.
And soon a third company will join this trademark
OK…
And they will abort his names… only refering themselves by his… Symbol!!!…
The… Trade!!!
Can’t wait to see, no later than the middle of this year, at The Ranch event, the bald guy stamping the symbol on his PU, and referring to himself in the third person…
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The Company Formerly Known As…
If only Disquis had an laughing icon!!!
Uahahahahahahahahahahahahahahahahahahahahahahahahahaha
There are few things in life love more than that Portlandia scene.
Surf is suffering from what skate suffered over and over again. Skate got smart though. Focussed on product that their market actually wanted. Created niche companies to cater to sub cultures within sub cultures. Surf is too dumb to do the same because we confuse the beautiful history of our sport with the companies who cashed in on it.
Same thing with BMX.
Surfing however has become the plaything of the rich and extremely wealthy. As long as that continues it will never be ‘cool’ for the masses and it’s brands will slowly die off. Hopefully.
Yep. All fringe sports. Surfing is the only one desperate to be as popular as tennis. And that will ensure disaster for the bottom line.
If the market boom and a 20% decrease in corporate tax can’t save them maybe it’s time to just let these companies die and see what rises from that.
Does that number include the bar tabs for Jack Robbo’s camp on the year?
Hopefully they just gave Iggy a few T shirts to wear. Yuck.
EOS: 2018
The year the People™ Broke the Exclusive People!!!
“Sometimes to have a good time you have to dress a little lame.” Noted.
Sometimes you have embrace the fact that you are a 47 year old who will never be 27 again. Wear what the fuck you like because the kids will laugh at you no matter what.
Recently updated my style to wearing my shorts above the knee. Kids are still laughing at me. I’m only 36
Keep up the good work. Youth is wasted on the young.
Quikbong?
Billabilver?
Billasilver?
Quikong?
Quibong?
Bill Oaktree. *Quikly.
And how exactly does Gabs benefit out of this
Ah, Billabong… remember when they got Lewie fired from Surfline?… Lewis Samuels v. Paul Naude… good times…
P.S. “blockbuster deal”
Even James Keyes and Michael Kelly are insulted
Only an ambassador for Stoke and Leisure can save us this time.
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