Billabong Shareholders Approve Boardriders Acquisition

HUNTINGTON BEACH, Calif., March 28, 2018 /PRNewswire/ -- Boardriders, Inc., a global action sports and lifestyle company that owns and operates Quiksilver, Roxy, and DC Shoes brands, announced today that the shareholders of Billabong International Limited (ASX:BBG) have approved Boardriders' proposed acquisition of Billabong.

Boardriders Chief Executive Officer Dave Tanner said: "We believe that this transaction represents the best value for all stakeholders – shareholders, employees, vendors and customers.  We are pleased to see that the Billabong shareholders recognized this value, and have approved the proposed acquisition. We have now cleared a significant milestone, and we are one step closer to creating the world's leading action sports company.  We look forward to uniting the Billabong and Boardriders communities and building a foundation to better showcase and grow the action sports industry."

The transaction is anticipated to close on or about April 24, 2018, subject to final approvals.

About Boardriders, Inc.:

Boardriders, Inc., is a leading action sports and lifestyle company that designs, produces and distributes branded apparel, footwear and accessories for Boardriders around the world. The Company's apparel and footwear brands, represent a casual lifestyle for young-minded people who are inspired by a passion for outdoor action sports. The Company's Quiksilver, Roxy, and DC Shoes brands have authentic roots and heritage in surf, snow and skate. The Company's products are sold in more than 110 countries in a wide range of distribution, including surf shops, skate shops, snow shops, its proprietary Boardriders shops and other Company-owned retail stores, other specialty stores, select department stores and through various e- commerce channels. For additional information, please visit our brand websites at www.quiksilver.com, http://www.roxy.com and www.dcshoes.com.

SOURCE Boardriders, Inc.