Dakine — purveyor of surf, ski, snowboard, bike, and other outdoor gear — joins the ranks of Marquee Brands along with Bruno Magli, Body Glove, BCBGMAXAZRIA, and others.
Dakine has a new owner. For the third time since 2009, the U.S. manufacturer of outdoor adventure gear finds itself under the umbrella of another company.
Today, Marquee Brands LLC — a “growing brand management company” owned by the private equity firm Neuberger Berman — announced it has acquired Dakine.
The deal is the latest in an ownership shuffle that has become the norm for Dakine and other outdoor brands. In 2009, Billabong purchased Dakine for $100 million, only to sell the Hood River, Ore., brand to a private equity firm for just $70 million four years later.
Today’s announcement comes days after golf giant Callaway announced it reached an agreement to acquire European outdoor gear brand Jack Wolfskin for nearly $500 million. And the acquisition list goes on: Canada Goose acquired Baffin last month, The North Face’s parent company VF Corp collected Altra earlier this year, Walmart took over Moosejaw last year, and so on.
Still, as with other acquisitions, officials overseeing the Dakine deal promised to deliver everything fans love and more.
“Dakine is a high-quality brand with a performance integrity and legacy of innovation that has allowed it to develop a fiercely passionate customer following, and which we believe is ripe with untapped growth potential,” said Zachary Sigel, managing director of Neuberger Berman, which owns Marquee Brands.
In a press release, Marquee Brands said it will maintain “dedicated teams” for Dakine in its current homes, Hood River, Ore., and Annecy, France, as well as Los Angeles. Marquee Brands also announced Ken Meidell, Dakine’s current CEO, will join its team.
“Marquee Brands’ vision is to intensify Dakine’s focus on producing high-quality products for its snow, surf, and bike customers while also pushing the brand to explore exciting and uncharted waters,” said Michael DeVirgilio, president of Marquee Brands.
When asked about the value of the deal, Marquee Brands told GearJunkie it could not disclose the financials of the privately held Dakine.