Billabong has acquired Xcel Hawaii Inc., maker of wetsuits and other
apparel and accessories, for an undisclosed price. Xcel Hawaii was
established in 1982 by Edmont D’Ascoli, who eventually moved to Hawaii.
D’Ascoli will remain with the business and continue to operate from
Hawaii, according to Billabong CEO Derek O’Neill.

“Xcel is a category leader, particularly in its primary markets of
Hawaii and mainland USA,” said O’Neil. “It has an authentic surf
heritage and it is a brand that we feel can readily benefit from the
support of the Billabong Group.”

D’Ascoli said, “Xcel will remain focused on its core products and will
then leverage the support of the Billabong Group in areas of
distribution and product development.”

The acquisition includes Xcel’s office and two retail stores on Oahu,
and a warehouse and repair facility in California. Xcel is projected to
contribute about 1 percent to Billabong revenue in the current fiscal
year.