Nike to Sell Hurley Business
Nike has reached a definitive agreement to sell the Hurley brand to Bluestar Alliance LLC.
"We appreciate how the Hurley team have built Hurley into the world's most innovative surf brand," said Michael Spillane, president of categories and product, Nike. "As we drive increasingly more targeted investment and focused growth through Nike's consumer direct offense, this change in ownership will allow sharper focus and intentional investment in Hurley's growth potential."
Terms of the sale are not being disclosed and it is expected to be complete in December.
“We have always admired the Hurley brand as it has maintained its leadership role and premium positioning in the surf world,” stated Joey Gabbay, CEO of Bluestar Alliance. “This is a transformative acquisition for Bluestar as Hurley’s international footprint will enhance Bluestar’s reach around the world. We look forward to building upon the existing Hurley network and expanding to additional countries with the deep relationships that already exist within the Bluestar portfolio of brands. We see Hurley continuing to evolve into a 360-degree lifestyle brand, with action sports playing a key role.”