The Billabong International Ltd is expected to acquire a portfolio of 38 retail stores from its rival General Pants Group and associated parties and the stores include Surf Dive ‘n’ Ski and Jetty Surf banners. The price detail of this takeover is yet to be unveiled and the purchase includes two licensed stores of Billabong. If the purchase completes successfully the global retail portfolio of the company will grow up to around 558 stores.

International beach and surf wear brand Billabong has been hit hard by the ever strengthening value of the Australian Dollar, as was revealed by the company in its annual general meeting. The strong currency value has considerably hit overseas sales and the firm's after-tax profits have slipped by over 13% and now stand at $152.8 Million.