Burlington, VT – Four Star Distribution has agreed to sell all four of its snowboard brands to Burton. Both parties have agreed on terms and are in the due diligence period of the acquisition, which is expected to be complete by August 15th, 2004. Four Star's brands will stay on the West Coast but will move from its current location.
The acquisition represents a new day for Burton to add to its existing portfolio of brands, which includes Burton, Analog, Gravis Footwear, RED Helmets & Impact Protection and Anon Optics.
"We feel that the acquisition of Forum, Special Blend, Jeenyus and Foursquare presents an excellent opportunity to reach out to a company that has great brands and a strong consumer following, but has not been able to reach its market potential," said Laurent Potdevin, Burton's President.
Markus Bohi of Four Star Distribution went on to say, "Selling off these brands is a very difficult decision for the company. We felt that we needed to concentrate on C1RCA's footwear and apparel business in order to be successful in the long-term. Over the years, we have been approached many times about selling these brands, but the fit and timing never worked. The timing is now right, and we could not place the brands' future in better hands than Burton, the clear global market leader."
"I think I speak for all of us at Burton when I say that we have gotten tired of watching ski companies buy up snowboard brands," says Jake Burton, founder and owner of Burton. "Forum is a company we have always respected, and it is a brand that needed to stay in the hands of snowboarders. We will do our best to see that Forum and its sister brands continue to grow and develop."