ASB MAGAZINE: Boardriders Inc., announced that it has sold Xcel wetsuits to Colorado-based ZG Collective. The divestment of Xcel is strategically aligned with Boardriders’ recently-announced multi-year growth agenda that is driving investment into a number of new growth initiatives across its six primary global brands. Those initiatives are focusing on funding continuing digital transformation, category extensions, changing go-to-market models, new partnerships, product development speed programs, and enhanced sustainability efforts.
David Tanner, Boardriders CEO said, “We’ve done a lot to streamline our company over the last several years, and now are squarely focused on our growth agenda. Although Xcel is a terrific brand, it constitutes less than 1% of our global sales, so it just made sense to focus our efforts on growing our larger brands and finding a great home for Xcel. We thank the entire Xcel team for their passion and dedication over the years and wish them the best of luck in this next phase.”
ROTH Capital Partners, LLC served as financial advisor, and K&L Gates served as legal counsel to Boardriders, Inc.
About ZG Holdings
ZG Management provides CRM, ERP, and a wealth of knowledge focused on the outdoor, snowsport, bike and consumer products industries. We build, buy, and grow brands we believe in. ZG Holdings was founded by Jarka Duba in 2015. Prior, Jarka founded and led sporting goods company POC USA through its acquisition by Black Diamond Inc. Specialties: Sales and marketing, competitive analysis, building brand awareness, strategic planning, advertising programs, team building, supply chain management, financial analysis, expense control, budgeting, outside sales reps, troubleshooting, manufacturing, information technology development, athlete management, strategic partnerships, skiing, snowboard, bike, outdoor, and resort.
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*Ed’s Note: Xcel won the ‘Wetsuit Of the Year, just last week at the 16th Annual SIMA Awards.