O'Neill Inc., the family-owned wetsuit and surf apparel maker, has sold the rights to its trademarks to Logo International B.V. The deal gives Logo International B.V. the rights to manufacture and sell clothing and products worldwide under the O'Neill brand name.
Pat O'Neill, the company's CEO and son of founder Jack O'Neill, said the deal was a “quality of life” decision that will help the company get back to its roots and allow him more time to surf rather than traveling the world brand-building.
“For the last half-century our family has taken great pride in designing and manufacturing the worlds best wetsuits and related products,” said Jack ONeill in a statement. “Nothing will change on that front. The sale of the worldwide trademarks will allow our team to focus exclusively on our core business and we will continue to support the independent dealer base that has supported us since the beginning.”
Under a separate agreement, the ONeill family will continue to own and operate the ONeill wetsuit business worldwide, the US outerwear business and the ONeill Surf Shops located in Santa Cruz, California. As it has done for the past 55 years, ONeill will continue to develop and produce a full range of the highest quality wetsuits for surf and other aquatic sports.
Logo International has also asked founder and former owner of ONeill Europe, Theo Dietz, and a former ONeill Europe CEO, Nick Verwer, to stay on as advisors.
Logo International BV is a European fashion group whose brand portfolio includes WE, Setpoint, Beldona, Van Gils, Frans Molenaar, Cakewalk, Jottum, Bad Boys, Salty Dog, Barbara Farber and Jeep and Jaguar (apparel).
The transaction consists of two consecutive acquisitions by Logo International. The first concerns the purchase of the worldwide rights to the ONeill brand and acquisition of the subsidiary ONeill Australia Pty Ltd from ONeill, Inc., the business founded by Jack ONeill in 1952.
The second acquisition concerns the European licensee ONeill Europe, a former O'Neill licensee headquartered in Warmond, the Netherlands. ONeill Europe currently employs over 430 people. ONeill Europe has subsidiaries in Holland, Belgium, Germany and France and will soon open a new office in the Biarritz Area.
Logo International said that by bringing the ONeill brand rights and ONeill Europe together under one company, Logo International will ensure the long-term development and growth of the ONeill brand.
It expects the resulting brand alignment across the globe will produce synergies in design, marketing, production and distribution. Logo International intends to realize further efficiencies and brand enhancement by the expansion of retail operations internationally.
“ONeill is an outstanding brand boasting a rich heritage,” said Logo International chairman, Ronald de Waal. “Merging the ONeill brand with ONeill Europe to form one company is a crucial step for the future of the brand. Going forward, we can now work together closely to elaborate the strong brand assets, new collections and possible line extensions. By adopting a long-term focus and fully realizing the brands market potential, we can also succeed in allowing ONeill to develop and achieve its goal of becoming the number one player in its respective market segment.”
Eppo van Berckelaer, Marketing & PR Director of ONeill Europe states: “The benefits in economies of scale and the willingness of Logo International to invest provides everyone involved with an excellent opportunity to bring the ONeill brand closer to our consumers. The continuoed involvement of the ONeill family will safeguard the authenticity of the brand.”
The sale will also permit Jack ONeill to spend more time on the ONeill Sea Odyssey program.
“This charitable organization, which is now entering its second decade , has taken over 40,000 school children to sea at no charge for a unique educational experience emphasizing the importance of caring for the ocean as a living organism. The ocean has been very good to our family and the ONeill Sea Odyssey provides a way to give something back”, said Jack ONeill about the organization he founded in 1996.
