Billabong sells Dakine label for $70 million

Extreme sports clothing label appoints new CEO as part of transfer
Author:
Publish date:
1-screen-shot-2013-07-29-at-10.01.34.png

Billabong's Dakine clothing label has been acquired by the Altamont Capital Partners for a sum of $70 million, according to BRAIN.

The extreme sports clothing label, which has an increasing presence in the mountain biking world, has now announced a new CEO and chairman, Leslie Lane of Altamont Capital. Former president Francois Carrete has now stepped down.

Lane said: “We’d like to thank Francois for his leadership and efforts over the past 18 months and wish him future success. We are excited to begin this new chapter in Dakine’s history, and are pleased to be able to invest in the future of this great brand.”

Billabong had been struggling with debts and the sale comes as part of the firm's drive to balance its books, which to date has seen a 48.5 per cent stake in Nixon also offloaded last year.

Featured Jobs

saddleback promo

Social media/marketing

Saddleback Ltd I Yate, Bristol I Salary dependent on experience I Date Published Friday 8th February 2019

BE2016_googlelogo

Senior Sales Executive

BikeExchange I UK Nationwide I Salary TBC Depending on level of experience I Date published Wednesday 16th January 2019