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Online retailer Surfstitch has more than doubled its market value in less than 12 months, thanks to a series of acquisitions that have seen the former pure-play online retailer move into bricks-and-mortar retailing and digital publishing.
The latest of those acquisitions is Surf Hardware International, the surfboard and accessories manufacturer behind brands such as FCS, Gorilla, Hydro and Softech.
Surfstitch paid A$23.7 million (US$17.1 million) for Surf Hardware, which it revealed in an update to the market when it emerged from a trading halt on Wednesday afternoon.
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