Authentic Brands Group, Inc. (ABG) is nearing a deal to acquire Boardriders, Inc., the parent of Quiksilver and Billabong, for $1.3 billion, sources told Bloomberg.

Sources said the deal could be announced as soon as next week.

Boardriders, owned by Oaktree Capital Management, had long been rumored to be on the selling block. The company’s six primary brands include Quiksilver, Billabong, Roxy, DC Shoes, RVCA, and Element.

Boardriders, Inc. was formed through the merger of the Quiksilver and Billabong businesses in April 2018.

A Moody’s report from late February had indicated that ABG was arranging financing to support a Boardriders’ acquisition.

ABG’s portfolio includes Marilyn Monroe, Elvis Presley, Muhammad Ali, Shaquille O’Neal, David Beckham, Dr. J, Greg Norman, Neil Lane, Thalia, Sports Illustrated, Reebok, Eddie Bauer, Spyder, Volcom, Airwalk, Nautica, Izod, Brooks Brothers, Barneys New York, Judith Leiber, Ted Baker, Hervé Léger, Frye, Juicy Couture, Vince Camuto, Lucky Brand, Aéropostale, Forever 21, Nine West, Jones New York, Tretorn, Prince, Van Heusen, Arrow, Hickey Freeman, Hart Schaffner Marx, and Thomasville.