Altamont Capital Partners Agrees to Acquire DAKINE

              Altamont Capital Partners Agrees to Acquire DAKINE

PR Newswire

PALO ALTO, Calif., July 16, 2013

PALO ALTO, Calif., July 16, 2013 /PRNewswire/ --Altamont Capital Partners
(Altamont) today announced that it has entered into an agreement to acquire
DAKINE, an action sports and outdoor accessories and apparel company, from
Billabong International Limited (Billabong).

(Logo:http://photos.prnewswire.com/prnh/20130701/SF40796LOGO)

DAKINE was founded in 1979 in Hawaii by Rob Kaplan and is based in Hood River,
Oregon. The brand has developed a strong reputation as the action sports
industry's leading provider of specialized backpacks, gloves, bags, and
technical accessories. An early pioneer in the wind surfing industry, DAKINE
has expanded to serve the snowboard, ski, surf, skate, bike, and kite
communities.

Commenting on the deal, Steve Brownlie, Principal at Altamont said: "DAKINE
has a high quality brand, strong track record, and long history in the markets
it serves – all of the qualities we look for in a consumer business. There is
a talented team at the company and we are excited to work with them to build
on DAKINE's successful history and drive future growth opportunities."

The DAKINE acquisition is occurring concurrently with a recapitalization of
Billabong led by Altamont and GSO Capital Partners. Additional details
regarding that transaction can be found in the Billabong press release
"Refinancing of Syndicated Debt Facilities."

About Altamont Capital Partners

Altamont Capital Partners is a private investment firm based in the San
Francisco Bay Area. Altamont is focused on investing in businesses where it
can partner with leading management teams to help the companies reach their
full potential. The firm's principals have significant experience building
business success stories across a range of industries.

About DAKINE

Backed by a pro team roster that includes some of the world's top action
sports athletes, DAKINE has been an industry leader in action sports
accessories since 1979. Founded in Hawaii and located at the base of Mt. Hood
in Hood River, Oregon, DAKINE offers a complete range of innovative and
quality products, including outerwear, sport-specific and lifestyle-driven
backpacks, bags, travel gear and accessories. DAKINE products are available
for purchase at specialty sports retailers worldwide. For more information
visit, www.dakine.com.

SOURCE Altamont Capital Partners

Website: http://www.dakine.com
Contact: Christina Stenson or Aman Battish, Brunswick Group on behalf of
Altamont, (415) 671-7679