San Francisco-based Altamont Capital Partners (Altamont) has entered into contract to purchase DAKINE from Billabong International Limited, according to Billabong’s investor relations page. The announcements comes just hours after Billabong announced a recapitalization led by GSO Capital Partners and Altamont, according to the International Venture Capitalist Post:
Steve Brownlie, an Altamont Principal, said “DAKINE has a high quality brand, strong track record, and long history in the markets it serves – all of the qualities we look for in a consumer business.”
“There is a talented team at the company and we are excited to work with them to build on DAKINE’s successful history and drive future growth opportunities,” Brownlie added.
Dakine was founded by Hawaii resident Rob Kaplan in 1979, and has since evolved to be one of the largest bag and accessory brand within the action sports market. Stay tuned for more information as it breaks.