Former Oakley & Nike Exec Joins Altamont Capital On Billabong Bid

Altamont Capital Partners has recruited former Oakley and Nike executive to join its 526.8 million Australian dollar (US$555.8 million) bid with VF Corp. to purchase Billabong International Ltd., according to a Deal Journal Australia story, which cited an anonymous source. Olivet currently serves as Director at Skullcandy.

David Scott Olivet, a clothing industry veteran and former vice president at Nike Inc., will work with private equity firm Altamont as it seeks to acquire a range of brands from Billabong such as Tigerlily, Element and Von Zipper, the person said.

VF Corp., which owns brands such as Timberland and North Face, said in a statement late Monday it will take Billabong’s namesake brand if its A$1.10-a-share offer with Altamont succeeds.