Goode Partners has acquired a minority equity stake in Skullcandy, a Park City, Utah-based maker of stereo headphones and earbuds targeting action sports and core audio consumers. No financial terms were disclosed.
Goode Partners LLC, the New York-based private equity firm, announced today that it has completed a minority investment in Skullcandy®, the Park City, Utah based designer and marketer of design-centric, stereo headphones and earbuds targeting action sports and core audio consumers.
“We are thrilled to be part of the Skullcandy team and growth plan. Rick Alden and Jeremy Andrus have assembled a truly dynamic and knowledgeable team to accelerate the Skullcandy® brand worldwide. They have clearly leveraged their experience and knowledge of the global action sport marketplace to position the Skullcandy and 2XL brands for mainstream success”, said David Oddi, Partner of Goode Partners.
Rick Alden, Founder and CEO of Skullcandy® commented “We are excited to be partnering with the Goode Partners family. They clearly are a value-added partner, with broad consumer knowledge and a global track record. We’re confident that with their participation we’ll be able to even further accelerate our already rapid growth on a global basis.”
Based in Park City, Utah, Skullcandy was founded by veteran entrepreneur and action sports enthusiast Rick Alden, Skullcandy has become a leading headphone provider and brand of choice for the skate, snow, surf, hip-hop, and independent music markets. The Company operates in over 50 markets globally through leading retailers and www.skullcandy.com. Since its founding in 2003, the company has experienced explosive growth through its product innovation and trend-setting design. By focusing on a distinct demographic, the company has established a clear niche and authentic brand credibility.
About Goode Partners
Goode Partners LLC is a New York-based private equity firm that focuses exclusively on investment opportunities in the retail, restaurant, apparel, direct marketing and branded consumer products sectors. The firm has established itself as a partner of choice by leveraging its unique combination of investment capital, a team of professionals with experience investing in and operating some of the world’s premiere consumer brands and an extensive industry network. Goode seeks to partner with the owners and managers of well-positioned, high-growth potential consumer-oriented companies. More information on Goode Partners and its team can be found on the firm’s website www.goodepartners