Marquee Brands has acquired Dakine and all related intellectual property.
In conjunction with the acquisition, Marquee Brands has entered into a long-term license agreement with JR286, which has acquired the operating assets of Dakine and will become Marquee’s long-term operating partner for the brand.
Zachary Sigel, managing director of Neuberger Berman, said: “Dakine is a high quality brand with a performance integrity and legacy of innovation that has allowed it to develop a fiercely passionate customer following, and which we believe is ripe with untapped growth potential.
“This brand is truly emblematic of the types of acquisitions we seek to make for the Marquee Brands portfolio.”
Marquee Brands and JR286, who will develop Dakine’s core categories, will maintain teams for the brand in Hood River, Los Angeles, California and Annecy, France.
Ken Meidell, Dakine’s current CEO, will be joining the Marquee Brands team.
Michael DeVirgilio, president of Marquee Brands, said: “Marquee Brands’ vision is to intensify Dakine’s focus on producing high-quality products for its snow, surf and bike customers while also pushing the brand to explore exciting and uncharted waters.
“The team at JR286 is world class and we’re thrilled to be partnering with them to help realize this brand’s full potential.
“We are also proud to have a team of brand enthusiasts from Dakine, led by Ken, joining the Marquee family.”
Jonathan Hirshberg, JR286 founder, president and CEO, said: “We are extremely excited to join forces with Marquee Brands as their operating partner in this acquisition.
“For years, as a passionate sport and outdoor enthusiast, I truly appreciate the Dakine brand, its longstanding heritage on the mountain and in the water, and the success it has achieved by staying true to its core consumer.
“We are excited to begin working with the talented Dakine team members around the globe.
“Their expertise sits right in our wheelhouse of design, engineering, sourcing, and global commercialisation. We can’t wait to get started.”