Kathmandu has bought Rip Curl. Photo: ODT filesOutdoor clothing and equipment retailer Kathmandu has acquired the "ultimate surfing company" Rip Curl for A$350 million ($368 million), it announced today. The acquisition will be funded through debt, a placement of $145 million and a further $32 million of Kathmandu shares to founders and Rip Curl chief executive Michael Daly. Kathmandu chief executive Xavier Simonet said the acquisition offered a "fantastic opportunity" for Kathmandu to grow and diversify in product, channel, geography and seasonality. Rip Curl chief executive Michael Daly will continue to lead the company from its Torquay head office.

Source: Otago Daily Times September 30, 2019 22:07 UTC