Altamont Capital Partners has made an investment in skate brand Huf Worldwide Inc.
Los Angeles-based Huf was founded by professional skateboarder Keith Hufnagel, who opened five boutique skateboard and apparel retail stores in San Francisco in Los Angeles. The brand sells skatewear and streetwear. Terms of the deal were not disclosed.
Lifestyle brands have had a history of attracting buyers. For more, see Retail M&A: Time-Tested Brands Sell.
Altamont, headquartered in Palo Alto, California, has more than $1 billion in capital under management. The firm focuses on investing in financial services, government services, consumer goods and retail and health care companies. The firm's recent investments include Legacy ER & Urgent Care, a health care group, and Klement Sausage Co., which it bought through portfolio company Tall Tree Foods.
Other recent consumer goods deals include 1-800-Flowers' purchase of Harry & David, in September, and Sequential Brands Group's acquisition of Galaxy Brand Holdings to bring in the Linens 'N Thing and And1 brands.
In January, Cherokee Inc. picked up the apparel brand of pro skateboarder Tony Hawk from Quicksilver Inc. for $19 million.