Billabong International Limited has completed the acquisition of the Sydney, Australia-based Surf Dive 'n' Ski and Jetty Surf retail stores from fashion apparel retailer General Pants Group and associated parties. Both the companies are based in Australia.
As reported, the deal includes 38 retail stores comprising the Surf Dive 'n' Ski (SDS) and Jetty Surf retail banners, along with two licensed Billabong stores.
Billabong said the transaction will strengthen Billabong's retail business in Australia and provide an opportunity to extract significant synergies in areas including warehousing, distribution, back-office support and overall retail management consolidation. Additionally, the direct retail operations enhance Billabong's visibility into the buying trends of the end consumer and assist in the development and delivery of on-trend product to both company-owned and independent retail accounts.