Quiksilver and Billabong Catch a Party Wave

[Money & Finance]

Iconic Australian surf brand Quiksilver is purchasing its hometown rival Billabong for $300 million. Kyles, Tylers, and Blakes everywhere are freaking out. 

ThatÂ’s because if you didnÂ’t wear a Billabong or Quiksilver shirt in sixth grade to complement your long hair and seashell necklace, you werenÂ’t cool. But neither company has been especially cool lately.

Billabong wiped out in 2013, admitting its brand was a thing of the past. And Quiksilver hung zero when it filed for bankruptcy in 2015.

Luckily, PE shop Oaktree Capital was there to scoop up Quiksilver. And after two years of financial CPR, it’s hoping a Quiksilver-Billabong duo will be gnarly enough to bring back the glory days.

All together, theyÂ’ll have 600 stores in 28 countries. SurfÂ’s up.

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