Boardriders Inc, a prominent global action sports and lifestyle company, has recently made an announcement about the sale of Xcel, a distinguished surfing wetsuit brand. This decision is in line with Boardriders’ strategic plan to focus on its six main brands: Quiksilver, Billabong, Element, Roxy, DC Shoes, and RVCA.

According to Dave Tanner, the CEO of Boardriders, the sale of Xcel was prompted by the fact that it represents less than 1% of the company’s global sales. However, he emphasizes that Xcel is still a fantastic brand and they are determined to find a suitable new home for it. This move enables Boardriders to concentrate their efforts on expanding their larger brands.

The new owner of Xcel is ZG Holdings, a group based in Aspen, Colorado. Although the financial details of the acquisition were not disclosed, ZG Holdings is well-known for distributing winter sports glove brand Level, helmet and sport protection brand Briko, and Swedish outdoor apparel and skiwear brand State of Elevenate. Additionally, they provide logistics services, CRM, and ERP solutions for third-party brands in the board sports and outdoor equipment sectors.

With the acquisition of Xcel, ZG Holdings enters the surfing market, thereby expanding their reach into a new sector of the action sports industry. This strategic move allows them to diversify their portfolio and explore new avenues for growth.

This sale is part of Boardriders’ plan to focus on its core business by divesting non-strategic brands. In the future, they also expect to sell Von Zipper, the sunglasses and goggles brand owned by Boardriders.

Boardriders expresses their gratitude towards the entire Xcel team for their dedication and passion throughout the years, wishing them the best of luck in the upcoming transition. With the acquisition by ZG Holdings, Xcel is now poised to embark on a new chapter of growth and development within the surfing market.

Useful Links:
1. [Xcel official website](https://www.xcelwetsuits.com/)
2. [ZG Holdings website](https://zgholdings.com/)