GOLD COAST: Billabong International has entered into a conditional agreement to acquire an interest in boardsports and surf apparel online retailer, Surfstitch.
The agreement means Billabong International will acquire a minority interest in Surfstitch, with options to acquire 100 per cent of the business.
It has not revealed the purchase price, stating it was "not material."
Australian company Surfstitch was launched by managing director Lex Pedersen and two business partners in September 2008. It stocks leading labels including Billabong, Rip Curl, Tigerlily, Seafolly, Insight and Globe among many others.
For more information on Surfstitch pick up a copy of Ragtrader's January 29 issue.