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Rip Curl, Oboz Owner in Exclusive Talks With Bluestar Alliance

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Rip Curl, Oboz Owner in Exclusive Talks With Bluestar Alliance

KMD is in exclusive discussions about a possible acquisition of the company by brand management firm Bluestar Alliance.

KMD Brands Ltd. said on Monday it is in exclusive discussions with Bluestar Alliance about a possible deal for the U.S.-based brand management firm to acquire all KMD shares.

KMD’s disclosure updates a prior announcement on Sept. 23 that it had received interest from a number of parties during its business review. The comprehensive business review was initiated in May and was undertaken with independent advisers Deloitte and Barclay & Co, along with legal advice from Chapman Tripp.

The agreement with Bluestar, which could be extended to Dec. 23 if certain conditions are met, allows the brand management firm to continue with its due diligence review of KMD.

“There is no certainty at this time that this process will result in receipt of a binding proposal, or that any transaction will ultimately be consummated,” KMD said, adding that the granting exclusivity should not be taken as a recommendation of any transaction by the company’s board.

KMD is a global outdoor, lifestyle and sports firm. It owns footwear brand Oboz, acquired in 2018, which is based in North America. KMD also owns apparel and travel brand Kathmandu, acquired in 2019 and based in New Zealand, and global surf brand Rip Curl, also acquired in 2019 and based in Australia. All three brands, including KMD, are each certified as a B Corp.

5 million New Zealand dollars. 8 percent, with growth led by new product introductions.


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