Monday, February 25

Nike Buys Hurley

EXPN.com

In an unexpected move on Friday, Bob Hurley sold his company, Hurley International, to Nike for an undisclosed amount of money.

The move comes at a time in which Nike is looking to expand their presence in the action sports world. Although they already back the skate shoe company, Savier, the acquisition of Hurley is a large one.

Hurley is well regarded within the surf industry and also has branches into skateboarding and snowboarding. The company reported over $70 million in sales last year as a clothing outfitter.

Bob Hurley will continue to serve as the president of Hurley International.