Kathmandu to buy Rip Curl for $368m to create billion dollar retailer

Mon, 30 Sep 2019

By Paul McBeth Oct. 1 (BusinessDesk) - Kathmandu Holdings will pay about $368 million to buy surf brand Rip Curl to create a billion-dollar revenue retailer, which it says will add at least 10 percent to earnings per share. The outdoor equipment chain has entered a binding agreement to buy the 50-year-old Australian company, which generated a profit of $27.2 million on revenue of $477.4 million in the June 2019 year. Kathmandu will raise $145 million in a one-for-four pro rata accelerated entitlement offer to help pay for the acquisit...

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