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Billabong acquires two brands from General Pants
06
Oct '10
Billabong International, a Burleigh Heads-based surfwear retailer, while eyeing its expansion in Australasia stated that, the company has inked a deal to acquire two retail brands Surf Dive 'n' Ski and Jetty Surf from the General Pants Group.

The company stated that, through the deal it will acquire 38 outlets. All these outlets are expected to contribute around three percent of the Billabong Group's overall earnings for the next financial year.

Though the group did not reveal the purchase price, but did inform that they are likely to finalize the deal on November 1.

Derek O'Neill, Chief Executive of the Group divulged that, they were for long associated with and have had good business terms with Surf Dive 'n' Ski, it being their first retail customer.

The officer also informed that, the company has no plans to drop any of the brands and intends to function as multi-brand retailer while maintaining both the brands.

Fibre2fashion News Desk - India

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