Adrenalina (adrenaline in Spanish) has announced a bid to buy Pacific Sunwear and is taking it to the board after being turned down by CEO Sally Frame Kasaks. On October 17, Adrenalina CEO Ilia Lekach offered to buy all outstanding stock of PacSun at $4.50 per share and submitted the proposal to PacSun after Kasaks supposedly declined the offer several times.
“We are confident that this transaction will create value for PacSun shareholders,” stated Lekach, however at press time today, it is unknown if the PacSun board is considering the offer.
Adrenalina is an “extreme” sports chain that is mostly known for having Flowrider machines within their stores that allow people to try out surfing. Adrenalina is different than Zumiez and PacSun in terms of action sports, in that they also offer up goods for skimboarding, kiteboarding, paintball, inline skating, and of course, Flowriding.
Often regarded by the action sports industry as not “core” by traditional action sports standards (and never covered in Transworld Business that we are aware of), Adrenalina has taken over many malls near you. Their concept, after their initial launch in October 2006, was to make what they still coin as “extreme” sports to the masses, particularly 12-24-year-olds, and mostly through surfing with their proprietary Flowrider machine. So while each Adrenalina store offers up much of what PacSun and Zumiez offer in terms of brands, they also try to offer an interactive experience with Flowrider sessions–surfing in a manmade wave tank–which costs between $20 for a half hour session and up.
In the last 2 years, Adrenalina has spread into large malls such as Miami International Malls, Orlando’s Florida Mall, Willow Bend Mall in Plano, TX, and into New Jersey, among other areas.
Adrenalina also has a TV channel called of course, Adrenalina.tv which covers various events that the store chain hosts and other competitions. Interestingly, the channel is offered in both English and Spanish.
Stay tuned for more once we find out what goes down with PacSun.