ASB MAGAZINE: Japanese investors are prepping for skateboarding’s entrance into the 2020 Olympics in Tokyo with HUF officially announcing its sale to TSI Holdings, a Japanese company managing a portfolio of leading apparel brands. The acquisition is set to close on December 15. TSI Holdings announced plans to purchase a 90% stake in the skate brand for approximately US$63 million.
“TSI is a great strategic partner and brand platform for HUF,” said HUF CEO Steve Holley. “The transaction gives us immediate access to the broader global marketplace in a way that would take us many years to achieve on our own. We are excited for HUF’s future as part of TSI.”
“The transaction gives us immediate access to the broader global marketplace in a way that would take us many years to achieve on our own. “
Founder of the brand, Keith Hufnagel, added “We’ve had a long relationship with TSI as our distribution partner in Japan. I have total confidence that they understand HUF as a brand and that we will be able continue to create amazing product, which is the most important thing to me. I also want to thank Altamont and the team there for all of their support – they have been great partners.”
HUF partnered with investment firm Altamont Capital Partners in 2014 to support its continued growth. The HUF Worldwide company includes the Lakai Limited Footwear brand — also part of the transaction. Under TSI, HUF will operate as an independent global company and will continue to be led by Hufnagel, Holley and CFO Jon Brubaker. HUF’S global headquarters will continue to be located in Irvine, CA, while its creative offices will remain in Los Angeles.
VIA HUF on Linkedin