Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Billabong attracts interest from potential buyers

Australian surfwear brand Billabong could be set to be bought after attracting interest from sportswear giant Nike, French luxury group PPR and private equity backer TPG Capital.

According to reports there is mounting speculation about the future of the brand with rumours that a number of different investors are eyeing the brand. Among the reported admirers is Nike, PPR and a number of private equity firms, including TPG Capital.

Billabong issued a profit warning late week for the year ending June 30. The brand said earnings for the year would be $130.5m (£84.0m) to $135.5m (£87.2m) compared to a previous forecast of $158m (£101.2m).

In February the brand rejected a bid from TPG Capital, telling the private equity company that the AUD $765m (£518m) bid did not represent the value of the company. Earlier this year there was also speculation that private equity firms Blackstone and KKR had entered the race to buy the Australian surfwear brand.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.