49-516: BBG may refer to: Businesses and organisations [ edit ] See also: § Places Billabong (clothing) , Australian Stock Exchange symbol B'nai B'rith Girls , the women's order of B'nai B'rith Youth Organization Board of Broadcast Governors , forerunner to the Canadian Radio-television and Telecommunications Commission from 1958 to 1968 Bradford & Bingley ,
98-418: A "creek that runs only during the rainy season". As of September 2013, Von Zipper and Element were two of the prominent brands that Billabong owns. Honolua Surf Company, Kustom , Palmers Surf, Xcel, Tigerlily, Sector 9 , and RVCA were the company's other brands. In 2018, Billabong International Limited was acquired by Boardriders, Inc, owner of rival brand Quiksilver . From late 2012 onwards, following
147-879: A bank in the UK British business group , an association or club of expatriate British business people U.S. Agency for Global Media (formerly Broadcasting Board of Governors ) Places [ edit ] BBG Academy , a high school in Yorkshire, England Baseball Ground , a stadium in Derby, England (1890–2003) Bay of Bengal Gateway , an international submarine communications cable Belize Botanic Gardens Bernburg (district) , Saxony-Anhalt, Germany (BBG on licence plates) Birżebbuġa , Malta (postal code: BBG) Branson Airport , Missouri, US (FAA: BBG) Brooklyn Botanic Garden , New York City, US Other uses [ edit ] Beibehaltungsgenehmigung ,
196-579: A certificate allowing a person to retain German citizenship while also naturalizing as a citizen of another country Brilliant Blue G , a type of Coomassie dye Browser based game BBG, the United States Navy hull classification symbol for a Guided Missile Battleship Boutros Boutros-Ghali , an Egyptian politician and diplomat Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with
245-412: A greater part of the year. Many billabongs are of cultural significance and social importance to Aboriginal and Torres Strait Islander peoples, and used as sources of fresh water as well as other resources. Water is an intrinsic part of Country , and essential resource during drought or dry seasons , and they have many intricate ways of understanding how to find water. The Ngan'gi peoples in
294-429: A higher price than Altamont, as well as a lower interest rate on a loan. Also as of this date, Billabong shares gained 6.8%, to 58.75 cents. A media report on 27 August 2013 stated that Billabong would be moving ahead with the $ US325 million refinancing proposal from Altamont and Blackstone. As of the same date, Centerbridge and Oaktree were actively pursuing Billabong directors in relation to their deal that they believe
343-400: A jolly swagman camped by a billabong , Under the shade of a coolibah tree, And he sang as he watched and waited till his billy boiled, Who'll come a'waltzing Matilda with me Banjo Paterson , Waltzing Matilda Banjo Paterson 's popular song " Waltzing Matilda " is set beside a billabong. Mary Grant Bruce wrote a series of books, known as The Billabong Series , depicting
392-401: A large flood. Billabongs are usually formed when the path of a creek or river changes due to bank erosion , leaving the former channel deprived of further inflow and becoming a dead-end gully holding only residual water that has not yet drained or evaporated. As a result of the arid climate of many parts of Australia, these "dead rivers" often fill with water seasonally but can be dry for
441-491: A low area of ground that was part of a river in the past and that only fills up with water from the river during a flood". In a 2009 study, billabongs of the Channel Country (a region of outback Australia whose name derives from the numerous intertwined rivulets that cross it) are alternatively termed waterholes, and described as "enlarged channel segments along the main course of the river... typically occur[ring] at
490-562: A major restructure. Up to 150 stores closed, and 400 full-time jobs would be lost internationally, including up to 80 in Australia. About 48.5% of its Nixon watches and accessories brand name will be sold to Trilantic Capital Partners to establish Nixon as a joint venture. The partial sale would give about US$ 285 (or A$ 265.78) million in net proceeds to Billabong. Proceeds from the sale will be used to reduce debt. In February 2012, TPG Capital made two takeover proposals, neither of which
539-766: A particularly active period of expansion for Billabong. Von Zipper, an eyewear brand, was acquired in early 2001 and the acquisition of skateboarding apparel and hard-good brand Element was announced in July 2001. The acquisition of the Kustom surf shoe brand , as part of Billabong's purchase of the Australian Gold Coast-based Palmers Surf company, was disclosed in September 2004. The following year in December, an official press release
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#1732773347023588-505: A partnership arrangement with Element. In May 2010, Billabong's retail expansion continued with the acquisition of American surf retailer Becker Surf and Sport in May (the Becker deal included the business's online operations, but not its surfboard operations), followed by the purchase of prominent Canadian action sports retailer West 49 in late June. Further acquisitions were then announced in
637-622: A two-year nonexclusive wholesale agreement with YM Inc. worth approximately CA$ 34 million. The ownership of 92 West 49 retail stores, located across Canada, was to be transferred through the deal. In January 2014, Oaktree Capital Management and Centerbridge Partners refinanced Billabong's debt for a 40.8 percent ownership. Billabong International, announced that it was selling, with the help of Guggenheim Securities , its 51 percent stake in SurfStitch and its 100 percent stake in Swell. In 2000,
686-487: A whole grew significantly, and Billabong was a part of this growth process. The company was first traded on the Australian Securities Exchange 2000, which provided the company with the funds to further expand and acquire other companies. As the company developed further, it acquired new brands and retail outlets to move beyond the wholesale business, and the first decade of the 21st century was
735-618: Is an Australian company focused on surfing , primarily a clothing retailer that also produces accessories, such as watches and backpacks , and skateboard and snowboard products under other brand names . Founded in 1973 by Gordon and Rena Merchant, the company first traded on the Australian Securities Exchange in August 2000. The name " billabong " is derived from the Wiradjuri word bilabaŋ that refers to
784-455: Is continuing to gain popularity, so more money is being put into it; now Billabong sponsors hundreds of surfers. Billabong In Australian English , a billabong ( / ˈ b ɪ l ə b ɒ ŋ / BIL -ə-bong ) is a small body of water , usually permanent. It is usually an oxbow lake caused by a change in course of a river or creek , but other types of small lakes , ponds or waterholes are also called billabongs. The term
833-593: Is first recorded in Australian English in 1836, referring to the Bell River in south-eastern New South Wales, when explorer Thomas Mitchell records the Aboriginal name of the river as "Billibang". It is first recorded in its later, more general sense, by J. Allen in 1853: "This station is situated about half-a-mile inland, over a 'billy-bong' (the native name for a small creek or backwater)". It
882-649: Is likely borrowed from Wiradjuri , an Aboriginal Australian language of New South Wales . The word billabong is most likely derived from the Wiradjuri language of southern New South Wales , which "describes a pond or pool of water that is left behind when a river alters course or after floodwaters recede". According to the Macquarie Dictionary (2005), the original term bilabaŋ means "a watercourse that runs only after rain", with bila meaning "river", and possibly combined with bong or bung , meaning "dead". The attribution of this last part of
931-625: Is not recorded in the first edition of the Oxford English Dictionary (prepared 1882–1888), published before the later contributions of the Australian academic Edward Ellis Morris . It appears in Morris's Austral English: A Dictionary of Australasian Words (1898). A 2004 thesis suggests that the term could be of Scottish Gaelic origin, derived from words for "lip" or "mouth" and "river". Definitions vary. A billabong
980-408: Is now deemed essentially worthless, according to Billabong's accounts" following the declaration of an A$ 859.5 million loss for fiscal year 2013. Billabong's brands were worth A$ 90 million at the end of June 2013, and on the morning of 27 August 2013, the company stated that global sales of A$ 1.34 billion were down by 13.5% in reported terms for 2012–13. The company returned to profitability in 2015—for
1029-402: Is often defined as an oxbow lake , an isolated crescentic pond left behind after a river loop is cut off when the river channel changes course. Merriam-Webster defines the word as: "1. (a) a blind channel leading out from a river; (b) a usually dry streambed that is filled seasonally", or 2. "a backwater forming a stagnant pool" The Cambridge Dictionary describes it as "In Australia,
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#17327733470231078-514: Is significantly superior to the accepted proposal. The consortium also claimed that they could finalise the details and a recapitalisation within a brief time period, and would allow Altamont-installed acting boss Scott Olivet to remain if their offer succeeds. The company's chairman Ian Pollard explained: We are nearing the end of a long process that has caused distraction, impacted on staff morale and has been very costly. The company looks forward to refocusing, reinvigorating its brands and rebuilding
1127-634: The Daly River region of the Northern Territory continue to manage the billabongs' ecology in their Country. Water-holding frogs living in the billabongs can take up a lot of water before it burrows into the earth in the dry season, and Aboriginal peoples in desert environments can locate the frogs underground by various means. In the days since the colonisation of Australia , these were important landmarks for European settlers to identify, and many billabongs were given names relating to
1176-455: The water-holding frog . Many of these species' life cycles are related to the changes in seasons. Dangers to the ecological balance of billabongs include saltwater intrusion and introduced species . Feral animals have caused salt water to flow into Arafura Swamp , a large freshwater basin in the Top End in the Northern Territory, in which there are many permanent billabongs. Once
1225-468: The 'girls' market, and the management intended to position the new addition so that it complimented the company's own 'Billabongs Girls' line. In 2008, Billabong continued with the consistent acquisition activity that occurred in 2007 and announced four acquisitions over four successive months. Following the acquisition of the Gold Coast store Kirra Surf in May, the company announced its acquisition of
1274-467: The 2014 earning reports—with a net profit after tax around A$ 25.7 million. This was first time the company became profitable since 2011. In April 2023, Authentic Brands Group made a binding offer to acquire Boardriders, Inc. from Oaktree Capital Management for US$ 1.25 billion. Boardriders includes the Quiksilver, Billabong, Roxy, RVCA, DC Shoes, Element, Von Zipper and Honolua brands. The takeover
1323-591: The Centerbridge and Oaktree consortium appointed new chief executive Neil Fiske; as of this date, Billabong was also continuing the search for a buyer for the Canadian skateboard retail chain West 49. The company's sale of the West 49 retail chain was announced on 4 November 2013, with fashion retailer YM Inc. identified as the buyer. West 49 was sold for about CA $ 9–11 million, and Billabong has also entered into
1372-599: The November purchase of the United Kingdom (UK)-based 13-store retail chain Two Seasons for an undisclosed sum. Billabong only announced a single acquisition in 2009 with the purchase of Swell, a US-based online retailer of board-sports brands, for an undisclosed sum. Billabong began 2010 with the signing of a 10-year licensing deal with popular skateboard company Plan B , and Plan B subsequently entered into
1421-486: The adventures of the Linton family, who live at Billabong station from around 1911 until the late 1920s. Both Aboriginal Australians and European artists use billabongs as subject matter in painting. For example, Aboriginal painter Tjyllyungoo (Lance Chad) has a watercolour entitled Trees at a billabong . American avant-garde filmmaker Will Hindle produced a short film titled Billabong in 1969. Billabong
1470-451: The business on a solid, long-term financial footing. Pollard stated on 29 August 2013 that the chance of Billabong considering the Centerbridge and Oaktree consortium offer was low. At the time of the interview, Pollard explained that Billabong's board is still evaluating the proposal, but also stated that the board is hesitant to overlook the deal brokered with Altamont and Blackstone. As of 21 September 2013, Billabong's deal with Altamont
1519-423: The claim from hedge funds Centerbridge Partners and Oaktree Capital , stating that the proposal in question was conditional, so could not be accepted. As of 23 August 2013, Billabong confirmed that is considering a rival deal from US hedge funds Centerbridge and Oaktree after the company had initially announced that plans to accept a US$ 300 million loan from an Altamont-led consortium. The two hedge funds offered
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1568-554: The company was publicly listed with sales of A$ 225 million that grew to A$ 1.7 billion in 2011. Profits of A$ 249 million were achieved in 2007. For the six months to 31 December 2011, Billabong experienced a 71% drop in net profit to A$ 16.097 million. In early 2013, Billabong revealed earnings collapses across core business markets that "decimated its business". Losses in the December half are A$ 536.6 million. A late August 2013 media report stated, "the Billabong label itself
1617-415: The company's decline in the period since 2008, Billabong International has been the subject of several protracted bidding and takeover processes in which the company's former United States chief Paul Naude has been a participant. During one period, Billabong used a corporate turnaround strategy to return the company to profitability, which it achieved in 2014. In December 2016, chief executive Matthew Perrin
1666-445: The confluence of two smaller channels". Queensland's Department of Environment, Science and Innovation , in its Queensland Waterhole Classification Scheme, describes waterholes as "referred to by a range of different names (i.e. billabongs, lagoons and waterbodies)". Another source describes a billabong as "a large body of water", which may be formed from a section of cut-off river, but may also be formed from water left behind after
1715-407: The local areas. A billabong retains water longer than the original watercourse and may be the only accessible water in a large area. Billabongs are significant because they do not have outflow and can hold water longer than sections of rivers especially during drier season, thus serving important ecological functions as waterholes and habitats for freshwater animal and plant species, including
1764-399: The public's awareness of its products, and the company expanded. By the 1980s, Billabong board shorts were present throughout Australia. Based upon the success in Australia, the company decided to export Billabong's products, and by the late 1980s, Billabong board shorts were available in other countries, including New Zealand , Japan , and South Africa . In the 1990s, the surf industry as
1813-559: The purchase of the Gullwing skateboard truck brand. Finally, in August, Billabong confirmed the acquisition of board-sport accessories brand DaKine , which specialises in backpacks , bags, gloves, and accessories, in a press release that projected that "DaKine is expected to contribute approximately 4% of Billabong International Limited’s Group sales in the 2008-09 financial year". Billabong's retail expansion continued into late 2008 with
1862-456: The remainder of 2010; the acquisition of apparel brand RVCA was confirmed in July and the label's founder Pat Tenore explained his decision in the Billabong press release: "One of the key things about Billabong is its respect for the creative independence of each of its brands and that level of flexibility will allow RVCA to maintain its identity while benefiting from the support of the wider Billabong group"; after RVCA, Billabong then returned to
1911-509: The retail market and ended the year with the October acquisition of the Australian retail stores Surf Dive ‘n' Ski and Jetty Surf—from vendor General Pants Group —for an undisclosed amount. On 16 February 2012, trading in Billabong shares was halted at the company's request because of reports of a A$ 776 million takeover offer from TPG Capital , a US private equity firm. On 17 February 2012, Billabong announced its intention to undergo
1960-812: The retail operations of Quiet Flight, a retail company on the East Coast of the United States that had already been operating licensed Billabong and Element retail outlets in Times Square , New York City. The Quiet Flight deal resulted in the addition of 14 Quiet Flight and Surf Warehouse retail stores, most of which were located in Florida, USA. Then in June 2008, the founders of the Sector 9 skateboard company accepted an offer from Billabong that also included
2009-403: The takeover process had "exploded into acrimony", as two US hedge funds contested the offer from Altamont Partners that was accepted by the company on 16 July 2013. Acting together, the hedge funds claimed that they had made a superior offer to the one that was accepted, whereby a debt-for-equity swap was proposed that would result in a 60% stake in Billabong. As of 19 July 2013, Billabong rejected
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2058-478: The title BBG . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=BBG&oldid=1233035554 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages Billabong (clothing) Billabong International Limited
2107-530: The word was contested in 2004 by Frederick Ludowyk of the Australian National Dictionary Centre , whose view was that that "-bong" or "-bang" was a suffix "signifying a continuation in time or space". Ludowyk writes that bong meaning "dead" is not a Wiradjuri word, but may have been picked up or assumed from the word "bung", which was originally a Yagara word used in the pidgin widely spoken across Australia. The word
2156-706: Was accepted. Billabong announced that Gordon Merchant, who owns 15% of the company's shares, had rejected both the offers. On 27 August 2012, chief executive Launa Inman presented her four-year plan to try to return Billabong to positive sales growth and increase earnings. The plan included a range of measures with the key focus being on simplifying the business, leveraging its namesake brand, improving its supply chain and e-commerce offerings. The new initiatives are estimated to cost roughly A$ 80 million. In September 2012, two private equity firms, TPG Capital and Bain Capital , were bidding for ownership of Billabong. The company
2205-539: Was finalized in September 2023. In 2009, as part of the Q150 celebrations, Billabong was announced as one of the Q150 Icons of Queensland for its role as an iconic "innovation and invention". Billabong sponsors teams of riders in different subcultures who play an ambassador-like role for both the brand and the corresponding lifestyle. As of 26 August 2013, a skateboard team is no longer listed on its website. Surfing
2254-670: Was found guilty of fraud and forgery by a jury in the district court in Brisbane, and was sentenced to jail in January 2017. Billabong was founded in the Gold Coast, Queensland , Australia, in 1973 by Gordon and Rena Merchant. At first, they designed and created board shorts at their home, and then sold them to local surf shops. Surfers soon realised the durability of the shorts that was the result of Rena's triple-stitching technique. Billabong started to sponsor contests, which increased
2303-448: Was no longer valid, and the company was in the process of seeking approval from shareholders to finalise an arrangement with Centerbridge and Oaktree, and their affiliates. If brokered, the deal will mean that the Centerbridge and Oaktree consortium will control most of the company's senior debt, it will own up to 40.8% of Billabong's shares, and will also be entitled to install three representatives on Billabong's board. On 21 September 2013,
2352-429: Was published to announce the acquisition of Nixon Inc. , a watch and accessories brand in the board-sports market. The acquisition of wetsuit and technical watersport accessories brand Xcel became effective on 1 September 2007, and Jodhi Meares 's former Tigerlily brand was acquired in December of the same year. The Tigerlily decision represented the first time that Billabong had acquired a brand focused exclusively on
2401-407: Was to finalise a takeover deal with either of two American private equity suitors; a refinancing deal was nearing completion as of 5 June 2013. On 4 June 2013, Billabong stated that it was unable to reach an agreement with US private equity funds Altamont Capital Partners and Sycamore Partners , 16 months after the first takeover move emerged. A media report published on 18 July 2013 conveyed that
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