Volcom Announces Acquisition of Laguna Surf & Sport
Press Release
- July 21 2008
- 733 views
- 6 comments
OFFICIAL PRESS RELEASE - Costa Mesa, Ca — Volcom, Inc. (NASDAQ:VLCM) today announced a definitive agreement to acquire the retail operations of Laguna Surf & Sport, a core retail partner in Southern California that operates two stores serving the Laguna Beach and Aliso Viejo communities. The stores will continue to operate under the same name and experienced retail team. Terms of the transaction were not disclosed.
“Laguna Surf & Sport has been a landmark on the Southern California surf and skate scene for many years and this acquisition further demonstrates our dedication to core retail and its importance to Volcom,” said Richard Woolcott, chairman and chief executive officer of Volcom. “It’s great to now be more strongly aligned with one of our longest standing accounts and we look forward to working together even more closely in the years to come.”
“This agreement truly represents a relationship that has come full circle,” said Eric John, owner of Laguna Surf & Sport. “I have watched Volcom grow from a small operation to a leading global board sports brand and I’m excited to be more closely involved with the company. I am confident our new partnership will continue to enhance the retail experience of Laguna Surf & Sport.”
About Volcom, Inc.
Volcom is an innovative designer, marketer and distributor of premium quality young mens and womens clothing, accessories and related products. The Volcom brand, symbolized by The Stone, is athlete-driven, creative and forward thinking. Volcom has consistently followed its motto of “youth against establishment,” and the brand is inspired by the energy of youth culture. Volcom branded products are sold throughout the United States and internationally.
FOR ADDITIONAL COVERAGE, PLEASE STAY TUNED TO TRANSWORLD BUSINESS.
»
July 21st, 2008 at 10:28 am
LS&S has one of the most pretentious shop staffs of any core retailer on PCH. many times I have gone in there and been completely ignored by the staff while they chat amongst themselves and their friends. I’ve walked in and then back out without making a purchase 3 times in the last 2 months. I’m sure this latest move will only make their heads swell even more. Wooly’s bought Electric and now LS&S, both in Laguna where he lives and the uber-hip industry types live and spend spennd spend. what’s next Vco buys Mosun?
will continue to purchase from Thalia St Surf, they are always nice and receptive and they do nice things with The Surf Gallery, give back to the overall community and don’t just take care of thier local friends.
July 21st, 2008 at 10:46 am
Totally agree. The crew down there are pretty lame and super close minded. I dig the Electric crew but get your point.
Snips Faber, and Rosey are about the only open minded folks to come out of that region. I am surprised the carry Volcom or RVCA as the are both “Newport Brands”
Clearly they are willing to break their rule when it suits the pocket book.
July 21st, 2008 at 4:48 pm
known those guys for years - they fit Volcom well in style and culture — good for them
July 22nd, 2008 at 7:52 pm
actually if you took the time to chat with them you would find the opposite of what you say. laguna surf and sport has done so much for the communities they live in and has inspired the youth surrounding it. its about family and community which is almost one and the same and that has been their focus from day one. you dont bite the hand that feeds and the community is what feeds these two companies.
September 4th, 2008 at 4:06 pm
What did Volcom pay for LS&S? Does anyone know? Was it THAT BIG of a transaction?