By  on July 11, 2010

SYDNEY — Billabong International Ltd. said Monday that it has reached a “conditional agreement” to buy California-based skate and lifestyle brand Rvca.

Terms of the deal were not disclosed, but Rvca is expected to contribute about 2 percent of Billabong’s group revenue in the 2010-11 financial year and will be earnings per share neutral. In the 2008-09 fiscal year, Billabong recorded 1.67 billion Australian dollars, or $1.46 million at average exchange, in group sales revenue, up 23.9 percent compared with the previous year.

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