American Exchange Group has acquired footwear brand Island Surf Company, the company announced Tuesday in a press release. Joe O'Brien, current president and CEO of the nautical-themed footwear brand, will continue to lead it following the deal.
“We are excited to join forces with American Exchange Group,” O’Brien said in the release. “This acquisition marks a new chapter for Island Surf Company, allowing us to expand our footprint and bring our coastal-inspired footwear to a broader audience.”
Accessories conglomerate American Exchange Group oversees designing, manufacturing, licensing and wholesaling for multiple brands, including Aerosoles, which it acquired in 2022, and White Mountain Footwear, which it acquired last year.
“The synergy between White Mountain and Island Surf Company will allow us to broaden the brand’s reach and transform it into a complete lifestyle brand,” Alen Mamrout, CEO of American Exchange Group, said in the release. “There are extensive opportunities to expand Island Surf Company into various categories through strategic licensing, utilizing our shared resources and expertise to maximize its market impact and appeal.”
American Exchange Group is a privately held company, and its stable of owned and licensed brands also includes Adrienne Vittadini, Danecroft, Southpole and Mudd.
“We view this acquisition as a strategic move to expand our market presence and introduce Island Surf Company’s innovative product lines to our established retailer network,” Steve Velasquez, American Exchange Group’s chief strategy officer, said in the release. “This step is part of American Exchange Group’s broader strategy to deepen our commitment to delivering products that align with our customers’ evolving needs.”
