KMD Brands enters exclusive takeover talks with US retail giant Bluestar Alliance

The owner of Kathmandu, Rip Curl and Oboz could be acquired by the parent company of Dickies, Hurley and Off-White

By LineZotpaper

Published2 November 2026

Read Time1 min

Sources2 outlets

KMD Brands, the ASX-listed company behind outdoor wear label Kathmandu, surfwear brand Rip Curl and footwear maker Oboz, has announced an exclusivity agreement with United States retail giant Bluestar Alliance over a possible full acquisition. In a statement to the ASX on Monday, the company said there was no certainty the process would result in a binding proposal or that a transaction would ultimately be consummated.

The announcement followed several approaches from external parties, the company said. KMD shares had jumped 10.4 per cent at 12.35pm AEDT on Monday, while the stock has fallen almost 60 per cent over the past year.

Bluestar Alliance’s stable includes labels such as Dickies, lifestyle brands Scotch & Soda, Hurley and bebe, and luxury fashion labels Off-White and Palm Angels, among others.

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Analysis

Why This Matters

The potential sale would shift ownership of iconic Australian outdoor and surf brands into American hands, affecting local control and brand identity.
KMD’s sharp stock decline over the past year suggests financial pressure that may have prompted the company to enter negotiations.
The deal would expand Bluestar Alliance’s already diverse collection of fashion and lifestyle brands, reinforcing its presence in the outdoor and surf segments.

Background

KMD Brands is the ASX-listed parent company of outdoor clothing brand Kathmandu, surfwear staple Rip Curl, and footwear brand Oboz. Bluestar Alliance, the US suitor, owns a stable that includes Dickies, Scotch & Soda, Hurley, bebe, Off-White and Palm Angels. The talks come after KMD received multiple external approaches, and the company has now agreed to a period of exclusivity while it considers a possible transaction.

What to Watch

Whether the exclusivity period leads to a binding proposal or the talks collapse without a deal.
Any regulatory signals if the acquisition proceeds, particularly concerning competition in the outdoor and surf markets.
KMD’s upcoming trading updates and whether the share price recovers or continues to slide.

Sources

Rip Curl’s owner in takeover talks with US retail giant · The Age
Rip Curl’s owner in takeover talks with US retail giant · Brisbane Times

Checked

10 claims in this story checked against 1 source: 9 supported.

Show each claim

SupportedKMD Brands has entered exclusive takeover talks with US retail giant Bluestar Alliance.The Age - Latest News: “it had entered into an exclusivity agreement with retail powerhouse Bluestar Alliance “regarding a possible transaction to acquire all of the shares in KMD””
SupportedKMD Brands, owner of Kathmandu, Rip Curl and Oboz, could be acquired by the parent company of Dickies, Hurley and Off-White.The Age - Latest News: “The parent company of popular Australian brands Kathmandu and Rip Curl has revealed it is in talks with the US-based global retail giant owner of labels including Dickies about a possible takeover.”
Not in the sourcesKMD Brands is ASX-listed.The Age - Latest News: “In an announcement to the ASX on Monday, KMD Brands, which is behind outdoor clothing and adventure brand Kathmandu, surfwear staple Rip Curl and footwear company Oboz, said”
SupportedKMD Brands is behind Kathmandu, Rip Curl and Oboz, described respectively as an outdoor wear label, surfwear brand and footwear maker.The Age - Latest News: “KMD Brands, which is behind outdoor clothing and adventure brand Kathmandu, surfwear staple Rip Curl and footwear company Oboz”
SupportedKMD Brands announced an exclusivity agreement with Bluestar Alliance concerning a possible acquisition of all KMD shares.The Age - Latest News: “it had entered into an exclusivity agreement with retail powerhouse Bluestar Alliance “regarding a possible transaction to acquire all of the shares in KMD””
SupportedKMD said there was no certainty the process would produce a binding proposal or that a transaction would be consummated.The Age - Latest News: ““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,” the statement said.”
SupportedThe announcement followed several approaches from external parties, according to KMD Brands.The Age - Latest News: “said that after receiving a number of approaches from external parties, it had entered into an exclusivity agreement”
SupportedKMD shares had risen 10.4 per cent at 12.35pm AEDT on Monday.The Age - Latest News: “KMD shares had jumped 10.4 per cent at 12.35pm AEDT on Monday.”
SupportedKMD shares had fallen almost 60 per cent over the past year.The Age - Latest News: “The stock has fallen almost 60 per cent in the past year.”
SupportedBluestar Alliance’s stable includes Dickies, Scotch & Soda, Hurley, bebe, Off-White and Palm Angels.The Age - Latest News: “Bluestar’s stable also includes lifestyle brands Scotch & Soda, Hurley and bebe as well as luxury fashion labels Off-White and Palm Angels, among others.”