TOP 100 ASX-listed retailer Billabong has busted down the door in Canada after acquiring retail giant West 49 for $110.4 million.
The move will see the Burleigh Heads surf apparel ubiquitous in more than 500 stores, adding to its existing presence.
West 49 sells fashion apparel, footwear and accessories, and operates under the West 49, Billabong, Off The Wall, Amnesia/Arsenic and D-Tox labels, targeting Canadian teens worth $2.5 billion annually.
The company was founded by Sam Baio in 1995 and has visibility in 138 mall-based stores in nine regions in Canada.
Billabong chief executive officer, Derek O’Neill, says the acquisition was logical given the close association between the two companies.
“West 49 is a complementary business and promises to be an ideal Canadian distribution platform for Billabong to showcase its brands and extend its reach to the end consumer.”
The transaction is expected to be finalised in September.