Keystone Business Advisors Facilitates Flojos Sale
(Westlake Village, CA)— Keystone Business Advisors recently announced that The Courtney Group has acquired Thousand Oaks, California-based Flojos brand, formerly owned by Conscious Corporation. The Lin Family, shareholders of Conscious Corporation, retained Dave Richards of Keystone Business Advisors to represent them in the sale of their business.
“The process it takes to sell a business includes a series of tough decisions that the owner needs to take into account before deciding which offer to move forward with. We had received five offers for the business and ultimately the Lin family selected the buyer which they felt were the best fit and had the greatest chances for growing the brand. John Dickinson is the new CEO and comes with broad industry executive experience that encompasses several top action sports companies including Vision, Vans, and Globe,” said Dave Richards of Keystone Business Advisors.
Flojos is a well-known manufacturer of flip flops, sandals, and shoes for men, women, and children. Established in the 1970’s by the Guadalajara, Mexico-based Santana Family, the company creates and produces high-quality surf-inspired products that are comfortable, stylish and affordable.
The Courtney Group is a private equity firm based on Newport Beach, California with a track record of successfully backing CEO’s in acquisitions.
Richards, one of the Business Brokers at Keystone, went on to say, “As a native Californian, I was proud to represent the company since Flojos was a product I grew up with as a kid along with brands like Ocean Pacific and Hang Ten.”
Flojos (pronounced “flo-hos”) is one of the top manufacturers of flip flops, sandals and shoes catering to men, women and children. The company creates and produces high quality surf inspired products which are comfortable, stylish and affordable. Flojos was established in the early 1970’s by the Santana Family who were based out of Guadalajara, Mexico. The family outsourced the manufacturing of the products in Mexico and first introduced Flojos flip flops to the surf market in San Diego, California. Soon after, the company introduced the classic-style sandal “101 Flojos,” which was a crisscross style that could strap to a foot. In turn, this enabled the company to quickly expand its retail customer base and dramatically increased sales and market share. The classic 101 Flojos quickly became an icon product and propelled the Flojos brand forward, enabling the company to quickly expand its retail locations and company sales. Since 1997 the company has been operated by Sheng Yen and Nellie Lin, who had expanded the product offering to include women’s and children’s product lines to respond to the changing demands of the market.
About Keystone Business Advisors:
Keystone Business Advisors is a full-service business sales and acquisitions advisory firm. Whether it is a buyer or a seller, their team will guide them through the entire process. Keystone specializes in representing owners with small to medium-sized businesses with annual revenues up to $50 million. They have experience in most industries, including manufacturing, wholesale/distribution, service, internet-related, software, contractor-related, professional practices, and healthcare. Their services range from pre-sale planning and providing brokers opinion of value to representing owners through the entire business sale process to keep things moving forward in an orderly manner to ensure that sensitive information is protected, uncertainty is avoided, and the best price is achieved.
Westlake Village, CA 91362
Telephone: (800) 978-0550