Body Glove has been acquired by Marquee Brands.
The surfing and diving company was founded in Redondo Beach in 1953 by Bob and Bill Meistrell. They were pioneers in the development and marketing of the first neoprene wetsuits.
Today, Body Glove is still making wetsuits, but it is also selling swimwear, personal flotation devices, apparel, and clothing.
Surfers Jamie O'Brien, Garrett McNamara, Tatiana Weston-Webb, and Anthony Walsh ride for the brand, as well as pro wakeboarders Harley Clifford, Bob Soven, and Noah Flegel.
"Body Glove represents what great brands are all about. While the brand is already ubiquitous and wildly successful, the opportunity to further expand its global footprint is at the core of our focus," underlines Michael DeVirgilio, president of Marquee Brands.
"There is tremendous growth ahead for Body Glove to develop new product categories that cater to a consumer that embraces life, the outdoors, and an active lifestyle."
The Meistrell family will retain 25 percent of Body Glove, but the deal does not include the 62-foot yacht "Disappearance" and Dive N' Surf, the original shop opened by the twin brothers in 1953.
Marquee Brands also owns British fashion brand Ben Sherman and Italian luxury brand Bruno Magli.