Bloomberg reports that family-run snowboard manufacturer Burton wants to sell the business for around $800 million.
Donna Carpenter, the wife of the company’s late founder Jake Burton, vehemently denies the rumors, claiming the company is not for sale and “will remain family-owned and privately held.”
“Since the beginning of owning this company, there’s always been rumors about us selling. So many that one year we made t-shirts that said, “Not for sale!” A recent report came out that we’re for sale. It is 100% bullshit. It was for a nice price, but as I’ve always said, we are family-owned and will remain family-owned.”
– Donna Carpenter, Chair of the Board
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Bloomberg claims to have spoken with people who know the deal and that negotiations are still at an early stage and could still come to nothing. The news is attracting the interest of buyout firms.
Jake Burton founded Burton Snowboards in a Vermont barn in 1977, selling just 300 “Burton Boards.” The pioneer helped rocket snowboarding into the mainstream by marketing his boards at snowboarding events and campaigning ski resorts to allow snowboarders to use their lifts, according to the Colorado Snowsports Museum.
Over time, Burton Snowboarders would become one of the most recognized snowboarding brands in the winter sports industry ridden by Winter Olympic champions and everyday snowboarders.
