Authentic Brands Group, a brand owner, lifestyle, entertainment and marketing company, has signed a definitive agreement to purchase Boardriders.

Boardriders is a global business with operations across continents including the Americas, Europe, Australia and Asia. The portfolio generates $2.9 in retail sales annually through a global distribution network of 500-plus owned retail stores, 7,000 wholesale accounts and e-commerce in 35 countries. Through the acquisition, Authentic expands its portfolio of brands with the addition of board sport brands including QuikSilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper and Honolua.

“Our brands and business have strong equity and an established and profitable organic growth strategy in place,” states Arne Arens, CEO of Boardriders. “We are confident that Authentic will bring the expertise and resources required to drive the next phase of Boardriders’ journey.”