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Volcom Buys Laguna Surf & Sport

Volcom, Inc. (NASDAQ:VLCM - News) today announced a definitive agreement to acquire the retail operations of Laguna Surf & Sport, a core retail partner in Southern California that operates two stores serving the Laguna Beach and Aliso Viejo communities. The stores will continue to operate under the same name and experienced retail team. Terms of the transaction were not disclosed.

“Laguna Surf & Sport has been a landmark on the Southern California surf and skate scene for many years and this acquisition further demonstrates our dedication to core retail and its importance to Volcom,” said Richard Woolcott, chairman and chief executive officer of Volcom. “It’s great to now be more strongly aligned with one of our longest standing accounts and we look forward to working together even more closely in the years to come.”

“This agreement truly represents a relationship that has come full circle,” said Eric John, owner of Laguna Surf & Sport. “I have watched Volcom grow from a small operation to a leading global board sports brand and I’m excited to be more closely involved with the company. I am confident our new partnership will continue to enhance the retail experience of Laguna Surf & Sport.”






Author: Sean Obrien
 
 
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Comments
Comments
RghtCst, Specialty Sell-Outs Aplenty! , 7/22/2008 11:29:22 AM
Just a question-- do these retailers sell out bc they have no choice, or are they lined up waiting to get purchased? Is there any buying being done by these shops who will "continue to oeprate under the same name and experienced retail team" or do their lines get dictated to them? In other words, what's in it for the retailers other than possible financial security? I can't imagine the "specialty" being special when you're owned by a corporate web of brands you'll now be forced to sell. Seems like everyone's pulling a Ryan Scheckler these days... Hmmmmmmmmmmm.
Owner Tommy's Slalom Shop Inc, Tommy Phillips , 7/23/2008 8:53:38 PM
We would love to see more infor on the Laguna aqusition and hear about their plans. All of us in the industry look up to Volcom. God bless.

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