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KMD Brands, owner of Rip Curl and Kathmandu, enters exclusive takeover talks
KMD Brands, owner of Rip Curl and Kathmandu, enters exclusive takeover talks with New York-based Bluestar Alliance
Key points
- KMD signed an exclusivity agreement with Bluestar Alliance, allowing due diligence and continued talks on a possible acquisition.
- KMD posted a full-year loss of $333 million in 2026 and had rejected a Stokehouse Unlimited proposal to demerge Rip Curl.
- KMD shares rose more than 11 per cent to $1.66 at 10.30am on Monday but have fallen nearly 60 per cent this year.
Why it matters. KMD said there is no certainty the process will lead to a binding proposal or a completed transaction, so the outcome remains open.
KMD Brands said on Monday it signed an exclusivity agreement with New York-based Bluestar Alliance, which is conducting due diligence on acquiring all of its shares. KMD posted a full-year loss of $333 million in 2026 and said there is no certainty the process will yield a binding proposal. The agreement carries a stop date of December 23 and can be extended if conditions are met. KMD shares jumped more than 11 per cent to $1.66 on Monday but have fallen nearly 60 per cent so far this year.
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KMD Brands, owner of Rip Curl and Kathmandu, enters exclusive takeover talks
KMD Brands, the owner of surf label Rip Curl, outdoor retailer Kathmandu and hiking boot brand Oboz, has entered exclusive takeover talks with New York-based Bluestar Alliance, a US retail group. KMD disclosed the talks on Monday. Bluestar is conducting due diligence on the potential acquisition of all of KMD's shares. If the takeover succeeds, KMD's brands would join Bluestar's growing portfolio. The company has been described as embattled, and the talks are not yet a completed deal.