Bluestar Alliance Enters Exclusive Talks to Buy KMD Brands
KMD shares closed 10.37% higher at $1.65 after the disclosure, following a drop of nearly 60% over the previous year.
By Tom Hadley
· 1 min read
US brand owner Bluestar Alliance has signed an exclusivity agreement with KMD Brands covering a possible purchase of all shares in the company, KMD told the Australian Securities Exchange on November 2, 2026, according to The Sydney Morning Herald.
KMD said it had fielded several approaches from outside parties before granting exclusivity, and cautioned that the talks may not produce a binding offer or a completed deal. KMD shares finished 10.37% higher at $1.65 after the disclosure.
KMD owns the outdoor retailer Kathmandu, the surf label Rip Curl and the footwear maker Oboz. Its stock had lost close to 60% of its value over the prior 12 months. Rip Curl was bought by the group in 2019 for $350 million.
Bluestar's portfolio includes Dickies, Scotch & Soda, Hurley, bebe, Off-White and Palm Angels.
Jun Bei Liu, co-founder and portfolio manager at Ten Cap, said the agreement gave shareholders more clarity and pointed to Kathmandu's reliance on winter trade, saying the business was "just too seasonal." She said competition from fast fashion had pressured the group.
Another US firm, Authentic Brands, bought Billabong and Quiksilver in 2023.
This story was first reported by SMH.com.au.
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