Authentic Brands Group is considering a $1.3 billion buyout of Boardriders Inc., the owner of surfwear brands Quiksilver and Billabong, and Roxy brands.

While the deal’s final terms are still being ironed out with Boardriders’ parent company Oaktree Capital Management, the deal could be announced as early as next week.

Boardriders, formerly known as Quiksilver, was acquired by Oaktree in 2016 when it came out of bankruptcy and sought to formulate a new plan to optimize its operations and revitalize its business. Later in 2018, the U.S. investment giant acquired Boardriders’ competitor Billabong.

If the deal goes through, Boardriders will join a long list of brands ABG has acquired since the start of the pandemic. Last year, the company acquired Ted Baker, the David Beckham brand and Reebok, among others.

ABG is currently also in the race to buy British boots brand Hunter, which reportedly received a £16.5m cash injection in 2020 from Pall Mall Legacy, a fund backed by Goldman Sachs and Three Hills Capital Partners. Pall Mall Legacy is the majority shareholder of Hunter, with Searchlight Capital Partners and Pentland Group owning the rest.

Authentic Brands and Oaktree Capital declined to comment on the news.

Photo credit: Judith Leiber