Billabong Buys Xcel
Billabong International has announced its acquisition of Xcel, the Hawaii-based maker of wetsuits and watersports accessories that was awarded the Surf Industry Manufacturers Association’s “Wetsuit of the Year” award earlier this summer for its “Infiniti Series” suits. Billabong, which makes its own wetsuits, did not disclose the terms of the acquisition.
“Xcel is a category leader, particularly in its primary markets of Hawaii and mainland USA,” said Derik O’Neill, Billabong’s international chief, and the acquisition will help strengthen Billabong’s position in the wetsuit category. The plan calls for Xcel to benefit from Billabong’s support in sourcing, distribution, finance and product development.
Xcel founder Ed D’Ascoli will remain with the company and continue to marshal the brand in Hawaii.
