Tactics Acquired by TSI Holdings, Owner of Huf
Editor’s note: We will have an interview with our friends at Tactics soon about the deal, which appears to have been in the works long before the coronavirus hit.
TSI Holdings Co., Ltd. (TSI Holdings), through its U.S. subsidiary TSI US Holdings Co., Ltd., has acquired an 88% equity interest in Tactics, a leading specialty skate and snow retailer.
Founded in the Pacific Northwest in 1999, Tactics operates a robust online business at www.tactics.com and retail stores in Portland, Eugene, and Bend, Oregon. Co-founders Bob Chandler, Matt Patton, and Shawn Gilliam will retain ownership interests and continue to serve as senior executives. Chandler has been appointed CEO.
TSI Holdings is a Japan-based public company engaged in the apparel and hospitality industries and is traded on the Tokyo Stock Exchange (TYO: 3608). Formed in 2011 through the merger of Sanei International and Tokyo Style, TSI Holdings owns or licenses over 40 brands including HUF Worldwide, Undefeated, Bait, Union, Herschel Supply, Stussy, Avirex, and Urth Caffé, among others. The company has over 20 subsidiaries and operates over 1,000 storefronts in Japan and abroad.
According to Shinichi Uetadani, CEO of TSI Holdings, “We are extremely pleased and thankful to be able to complete this transaction in the current challenging climate. This allows us to further penetrate the action sports/street wear space and support and encourage business stability and growth at this critical time. Early in our discussions, we recognized Tactics’ enviable position in the online market, superb management team, highly motivated employees, industry-leading technology, and consider Tactics to be an ideal company to help grow our U.S. portfolio. Along with our recent acquisition of HUF Worldwide, our acquisition of Tactics puts us in a strong position to leverage our brand portfolio in the U.S. through e-commerce.”
“We feel we threaded the needle with TSI as a strategic partner. This partnership is the culmination of a long conversation between both companies. The fact this is happening now, in this climate, speaks to the trust, mutual respect, and strategic alignment formed during that process. Bob, Shawn, and I, along with the entire Tactics team, are excited for this new chapter and to accelerate our progress fulfilling the potential of Tactics,” said Matt Patton, Tactics COO.