The California based Quicksilver is set to sell its majority stake in Surfdome-online surf, skate and snowboarding gear retailer to the Australia based Surfstitch for an amount of US $ 16 million. Andy Mooney, Chairman and CEO, Quicksilver said that the transaction has been driven by Quicksilver’s need to focus on its core brands of Quicksilver, Roxy and DC. As a part of the deal, Surfdome will continue to carry Quicksilver, Roxy and DC products under a two-year supply agreement. Expected to close before year’s end, the deal is now subject to SurfStitch reaching an agreement to buy the minority interest in Surfdome.
