no job cuts with this takeover, but a restructuring plan previously planned

It will be a real breath of fresh air for all employees. It’s a new start with positive dynamics for the group,” rejoices Nicolas Foulet, president of Boardriders Europe, on France Bleu Pays Basque on Wednesday.

The Breton group Beaumanoir is buying the boardsports brand specialist Boardriders Europe, confirm Beaumanoir and Nicolas Foulet, president of Boardriders Europe, to France Bleu Pays Basque on Wednesday June 5. The Saint-Jean-de-Luz headquarters has been saved and there are no job cuts planned, a source close to the group told France Bleu Pays Basque, contrary to what AFP indicates. Boardriders Europe has in fact already made a restructuring plan before its takeover, with 120 job cuts.

“This acquisition is extremely positive for the group, for the brands, for employment in the Saint-Jean-de-Luz area and in the South-West area”welcomes Nicolas Foulet who says he “very optimistic, very happy with this takeover. It’s going to be a real breath of fresh air for all the employees. It’s a new start with positive dynamics for the group.”

Beaumanoir, already owner of Cache-Cache, Bonobo, La Halle and Sarenza, becomes a 100% shareholder of Boardriders Europe. The two parties agreed that the headquarters, which today has 563 employees, will remain in Saint-Jean-de-Luz (Pyrénées-Atlantiques), “in the historic premises of Boardriders, because we are not in Saint-Jean-de-Luz by chance, the Basque Country, the Landes, are really the nerve center of surfing in Europe. It was important to stay here for the credibility of our brands”explains Nicolas Foulet.

The New York giant Authentic Brands Group, which bought Boardriders Inc., the American parent company, in September 2023, remains the owner of the company’s brands: Quiksilver, Roxy, DC Shoes and Billabong. Beaumanoir will have the operating rights for Western Europe for 15 years, renewable twice, upon payment of a royalty.

The interest for Boardriders Europe is to be able “diversify”. “We really have the ambition to move forward”, repeats its president. The takeover by Beaumanoir “brings us great perspectives”. The group will be able to develop “three main axes” : “Firstly, they are specialists in logistics and transport, we will rely on their branch called C-Log, which will give us an ‘upside’ [avantage] quite important on that part.”

Secondly, the president of Boardriders Europe hopes to use the “Beaumanoir’s extremely developed sourcing network, a network of factories where we will have our products manufactured. We will be able to add our volumes to their volumes and there will be a fairly significant economic ‘upside'” [des économies d’échelle].

Thirdly, “it means relying on a retail specialist [vente au détail en magasin de marque] which will allow us to move forward, the Beaumanoir group is extremely strong”thinks Nicolas Foulet, he is “Dominating a country like France, it will bring us significant prospects for development in the retail sector, it will allow us to redevelop. We had a fairly difficult period where we tended to put ourselves in a position of defense”, explains the president of the ski group.

“We have disappeared from certain parts, particularly city centers, which are very important for the development of brands. The Beaumanoir group will bring us a beneficial perspective for all brands.”

Nicolas Foulet, president of Boardriders Europe

on France Bleu Pays Basque

The Boardriders Europe group had carried out a restructuring plan just before the takeover. “The goal is not to reduce even more here,” assures Nicolas Foulet. “Our objective is to redevelop the group, move forward, regain growth and perhaps other opportunities to exploit other brands in the future which would make it possible to recreate value and therefore job.”

The objectives and roadmap will be revealed to the company “in the coming weeks”.