Hot Tuna is moving to foreign shores with the Federation Group, Hot Tuna sells the 33-year-old surf wear brand to US-listed Aussie Apparel Group Ltd for 9 million dollars. The investment group Federation bought Hot Tuna seven months ago for approximately six million dollars. The agreement takes effect on December 31. For Hot Tuna, this acquisition is a chance to rapidly expand into the US market.

The deal marks a change in direction for Hot Tuna which in May said it would set up its international headquarters at the new St Kilda Sea Baths complex in Melbourne, with a complementary showroom in Sydney.
Now, Hot Tuna Australia is in the process of moving its head office to Los Angeles to assist in its international expansion.

Hot Tuna was launched in the 1960s as one of the four original surf brands launched out of Australia along with Quicksilver, Rip Curl and Billabong.

December 21, 2002