KMD Brands, the owner of Kathmandu, Rip Curl and Oboz, said on 2 November 2026 that it had granted US-based Bluestar Alliance exclusivity to undertake confirmatory due diligence and continue talks on a possible acquisition of all its shares.
Deal terms and financing
No price or structure has been disclosed. Exclusivity can be extended if specified conditions are met, up to a long-stop date of 23 December 2026. KMD said the board had not made a recommendation and that the grant of exclusivity should not be taken as one.
Regulatory approvals and timing
There is no certainty that the process will result in a binding proposal or that any transaction will be completed. Shareholders do not need to take any action.
Market context
KMD said in its FY26 results on 23 September 2026 that it had received a number of indicative approaches during its business review and would engage with a limited number of parties. Bluestar Alliance owns brands including Dickies and Hurley. KMD's shares rose more than 10% on the news, though they remain about 90% lower than five years ago.
