The transaction was completed 19 August 2013.
Commenting on behalf of Kahala, Kevin Blackwell, the founder and now co-CEO of Kahala, shared that he has known Michael Serruya for over 20 years and holds him to the highest regard, not only professionally but personally: “It is without doubt that Michael’s expertise and experience in the franchising world will have a positive impact on Kahala and its future, and I know that Michael will be a tremendous asset to Kahala,” he said. “The financial strength of the company has been significantly enhanced as a result of this transaction. It positions Kahala as an industry leader and will allow us to grow our portfolio by acquiring or partnering with other world-class brands.”
Source: Kahala Corp
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