Surfwear business Billabong International has bought Midlands-based boardsports retailer Two Seasons for an undisclosed sum.
Billabong International has bought the 13-store chain via one of its subsidiaries, GSM England Retail.
Two Seasons, which stocks brands such as Animal, Billabong, Roxy and Rip Curl, has written to suppliers to reassure them it is “business as usual” and said it would honour all spring 09 commitments.
Billabong said it would continue to develop the multi-brand format at Two Seasons and “stay true to the core” of the retailer’s concept.
Two Seasons offers men’s, women’s and kids’ wear, as well as accessories and boardsports equipment.
Its stores are located throughout the Midlands and East Anglia, including shops in Derby, Leicester and Cambridge.
Two Seasons said in a statement: “The sale will secure an exciting future for Two Seasons, delivering the capital structure, accelerated growth and shared vision to enable the business to enjoy continued multi-brand high street success throughout the UK and beyond.
Our understanding of the UK market combined with Billabong’s global expertise will provide an exceptional platform for growth.”
It is unclear whether any jobs have been affected but it is understood that Two Seasons’ senior management team, including Stuart Roberts, Adrian Flowers and Alun Roberts, will remain intact.