Just as we all do, business owners have to from time to time reassess priorities in order to focus on things most important to them.

The San Diego Union-Tribune reports that a business about an hour and a half north of here is doing just that, selling off a non-core subsidiary in a transaction designed to allow owners to reprioritize and refocus on what’s most critical.

The newspaper reports that Quiksilver has sold its Mervin Manufacturing snowboard subsidiary for $58 million. The Huntington Beach company also reportedly has plans to shed other non-core ventures in coming days.

Quiksilver sells clothing inspired by skateboarding and surfing. It is reportedly looking at ways to enhance its position by selling non-core ventures such as Surfdome Shop Ltd. and Hawk Designs Inc. It’s also apparently looking to sell off its Moskova brand of underwear and the business licensed with Maui and Sons.

Quiksilver’s CEO said shedding non-core assets will enable the retailer to focus on its trio of essential brands: Quiksilver, Roxy and DC Shoes.

He added that the company has already put part of the proceeds from the recent Mervin sale to use, investing in Brazilian and Mexican subsidiaries, now having full control and ownership of those ventures.

The CEO said the company is intent on making itself more financially flexible and making its liquidity more stable.

The firm has reportedly recently added a European credit facility at a cost of $81.5 million.

These kinds of complex, essential changes in direction are best executed with the assistance of a trusted, competent business attorney who understands not only the law, but also the goals, assets and market position of a client.

Source: San Diego Union-Tribune, “Quiksilver plans to sell some non-core businesses,” Dec. 3, 2013