Houlihan Lokey Advises Dakine

Houlihan Lokey is pleased to announce that Dakine, formerly owned by Altamont Capital Partners, has been acquired by Marquee Brands LLC. In conjunction with the acquisition, Marquee Brands has entered into a long-term license agreement with JR286, which has acquired the operating assets of Dakine and will become Marquee Brands' long-term operating partner for the brand. The transaction closed on December 4, 2018.

Dakine, founded on Maui's North Shore in 1979 and currently based in Hood River, Oregon and Annecy, France, is an outdoor sports and lifestyle brand offering snow, surf, and biking bags, backpacks, gear, and accessories to outdoor enthusiasts. The brand got its start when it created an innovative new surf leash that became a breakout success among Hawaii's surf scene. Since that time, Dakine has continued to deliver innovative, high-quality equipment and accessories built to perform in the harshest conditions and accompany the most fearless athletes. Over time, Dakine has developed a global following and today generates an equal amount of sales in both North America and Europe.

Altamont Capital Partners is a private equity firm with over $2.5 billion of capital under management, focused primarily on making long-term, control investments in middle market businesses. The firm is often drawn to companies undergoing a transition, either operational or strategic, with an approach focused on forming partnerships with strong management teams, supporting businesses with the firm's considerable resources, and bringing a constructive and pragmatic mindset to drive significant long-term value.

Marquee Brands is a brand acquisition, licensing, and development company. Sponsored by Neuberger Berman Private Equity, a business of Neuberger Berman, one of the world's leading employee-owned investment managers, Marquee Brands targets high-quality brands with strong consumer awareness and long-term growth potential. Marquee Brands seeks to identify brands in various consumer product segments with the goal of expanding their reach across the retail channel, geography, and product category while preserving the brand heritage and enhancing the ultimate consumer experience. Through its global team of professionals and partners, Marquee Brands monitors trends and markets in order to grow and manage brands in partnership with retailers, licensees, and manufacturers through engaging, impactful marketing, and strategic planning. Marquee Brands' portfolio currently consists of Bruno Magli®, Ben Sherman®, Body Glove®, BCBGMAXAZRIA®, and BCBGeneration®, together generating more than $1.5 billion of retail equivalent sales.

Headquartered in Southern California since 1989, JR286 is an innovative, global leader in product design, development, sourcing, manufacturing, and distribution of athletic, fitness, and outdoor equipment and accessory products. Through an operational footprint in North America, Europe, China, and Southeast Asia, JR286 is positioned to service its global customer base. The company has a long-standing, exclusive global license with Nike covering hundreds of sports-related accessories and equipment. It also operates the wholly-owned Vertra sun care brand.

Houlihan Lokey served as the exclusive financial advisor to Dakine and assisted in initiating, structuring, and negotiating the transaction.