French retail conglomerate PPR has shelled out $608 million to scoop up Volcom, the California surf-and-skate brand.

PPR, which owns luxury labels like Gucci Bottega Veneta and Alexander McQueen, said it aims to reap efficiencies between Volcom and Puma, the German athletic-wear giant PPR acquired in 2007.

While Puma is focused on soccer and running shoes, Volcom is known for its board shorts and hooded sweatshirts.

Some analysts grumbled that PPR was paying a steep price for Volcom — about 27 times last year’s earnings at $24.50 a share, a 19 percent premium to its April 29 closing price of $19.73.

Nevertheless, PPR Chairman Francois-Henri Pinault — who has stumbled in recent years with acquisitions, including catalog retailer Redcats and the FNAC bookstore chain — said Volcom’s growth prospects and expected synergies with Puma justified the premium.

Volcom last year had net income of $22.3 million as revenue rose 14 percent to $323.2 million.