(RTTNews) - NIKE, Inc. (NKE) announced a definitive agreement to sell the Hurley brand to Bluestar Alliance LLC. Hurley designs, markets and distributes surf and youth lifestyle footwear, apparel and accessories.
Michael Spillane, President of Categories and Product, NIKE, said: "As we drive increasingly more targeted investment and focused growth through Nike's Consumer Direct Offense, this change in ownership will allow sharper focus and intentional investment in Hurley's growth potential."
Bluestar Alliance was founded in 2006 by Joseph Gabbay and Ralph Gindi. It owns, manages, and markets a portfolio of consumer brands.
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