Boardriders Inc., the parent of Quiksilver, Roxy and DC Shoes brands, announced that the shareholders of Billabong International Limited have approved Boardriders’ proposed acquisition of Billabong.

Boardriders Chief Executive Officer Dave Tanner said: “We believe that this transaction represents the best value for all stakeholders–shareholders, employees, vendors and customers. We are pleased to see that the Billabong shareholders recognized this value, and have approved the proposed acquisition. We have now cleared a significant milestone, and we are one step closer to creating the world’s leading action sports company. We look forward to uniting the Billabong and Boardriders communities and building a foundation to better showcase and grow the action sports industry.”

The transaction is anticipated to close on or about April 24, 2018, subject to final approvals.