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Small surfboard firms try to stay afloat: big corporations buy out some small companies.

Publication: San Diego Business Journal
Publication Date: 28-MAR-05 		Format: Online - approximately 1104 words
Delivery: Immediate Online Access

Article Excerpt
Staying afloat in the surfing industry can be a challenge, as small companies are being snatched up by larger corporations looking to capitalize on the booming market.

Local sandal maker Reef Holdings Corp. is the latest target in the surf industry as the 21-year-old company agreed to be acquired last week by apparel giant VF Corp. of Greensboro, N.C.

Tom Morey, whose name is famous in the surfing industry as the creator of the Boogie Board, is not surprised.

Morey, a mainstay in the industry since 1955, said smaller surfboard and surf apparel companies are often acquired by larger firms.

"Poor business owners, they are up to their ears and jump through hoops every day," said Morey, who recently relocated his surfboard manufacturing company Y Surfboards, to Oceanside.

"It has gotten tough to do business in the United States. What comes to mind is the cartoon of the small fish being chased by the big fish who is being chased by the bigger fish...

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