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Westlife Distribution announced late Sunday that it is acquiring the Matix apparel brand from its new owners, Sequential Brands Group.
Westlife is the owner of snow outerwear brand 686, and CEO Mike West also has skateboarding roots. In addition to being a core industry company that is still independently owned and operated, Westlife prides itself on its strong backend operations.
Brian Dunlap. Shop-eat-surf file photo.
Brian Dunlap, a former co-owner of DVS, will take on the president’s role at Matix.
The brand will move to Westlife’s headquarters in Los Angeles.
According to documents Sequential filed with the SEC on Monday, Westlife acquired the Matix trademarks, intellectual property and account receivables for $2.95 million in cash.
Westlife went after the Matix brand before, and attempted to buy it during the bankruptcy auction process.
It had worked out a deal to buy the brand from Podium Distribution Acquisition, a joint venture consisting of Toby Bost, the CEO of the La Jolla Group, Matt Cook, and the La Jolla Group, if they had been the winning bidders, according to testimony in court.
Sequential came out on top, however, acquiring all of DVS for $8.55 million. Sequential owns the William Rast and People’s Liberation brands, and has already signed footwear and licensing agreements for DVS.
The footwear company that Sequential chose for the DVS footwear license is a large footwear company that has the licenses to make a wide range of footwear brands.
Here is the Westlife press release announcing the Matix acquisition.
Westlife Distribution Acquires Matix® Clothing
LOS ANGELES, CA (July 1, 2012) – In an exciting turn of events, Westlife Distribution is pleased to announce the addition of Matix®Clothing to the increasing brand portfolio that also includes technical apparel brand, 686®. Westlife will be acquiring Matix from the Sequential Brands Group in an asset purchase, which includes intellectual property, inventory and accounts receivable.
Mike West back in the day.
While the details of the agreement are confidential, Westlife is excited with the outcome and has big plans for Matix. “Skateboarding is where I came from and I couldn’t be more stoked. We’ve been longtime fans of Matix and have solid relationships with the Dunlap brothers as well as current and former Podium employees,” said Michael Akira West, President/CEO of Westlife Distribution.
Details are still being ironed out, but Matix will be immediately re-locating to the Westlife headquarters in Los Angeles, California. It is the goal of Westlife Distribution and Matix to make this transition as seamless as possible. All current Matix employees will be making the move, and Brian Dunlap will be fulfilling the role of President.
“I would like to give a big thank-you to all the retailers, reps and distributors that have been behind Matix for all these years and especially during these tough times,” said Dunlap, “With the Westlife structure behind us, we will be at 110% in no time. As George Herbert said, storms make the oak grow deeper roots…”
“Matix is iconic within the action sports world,” continues West, “We wanted to keep it in the family and industry. We are committed to improving the operational foundation, making superior products, working with quality retailers and growing its business over time, just like we have done with 686 for the past twenty years.”
For customer service, accounts receivable and general dealer questions, please call (949) 699-6868 and ask for Matix Customer Service. The mailing and shipping address for Matix Clothing is now 227 E. Compton Blvd, Los Angeles, CA. 90248.