Rip Curl was sold for 350 million

Brian Singer and Doug "Claw" Warbrick sold Rip Curl to Kathmandu for $350 million. The couple founded the brand in 1969 on the Great Ocean Road in Torquay, Victoria and launched themselves into the then-emerging surf market with a dream: to combine business and passion in order to finance their trips in search of the perfect wave. In a short time, the project has expanded from craft boards to the production of wetsuits, swimsuits and all accessories related to the world of surfing, becoming together with Quicksilver and Billabong one of the largest companies in the industry. Today Rip Curl has a product distribution network that covers the entire world, with 5000 points of sale, of which 341 are single-brand. In addition, its team boasts the best professional surfers in the world, including World Champions Tom Curren, Gabriel Medina and Mick Fanning.

The union of Rip Curl and Kathmandu, a New Zealand brand offering outdoor clothing and camping equipment, fuses two iconic Australian labels together.  

"There are strong parallels between Rip Curl and Kathmandu. Both companies thrive in creating high-quality functional products for outdoor enthusiasts, surfers and vacationers around the world. Both brands also come from the same part of the world: Australia and New Zealand."

Said Michael Daly, CEO of Rip Curl Group, enthusiastic about the fusion, emphasizing the strong cultural alignment and a shared focus on quality, innovation and sustainability. For Kathmandu, the acquisition of Rip Curl represents a great opportunity to grow and diversify its production and conquer the surfing market, which will allow it to become a $1 billion action and outdoor sports company. Although Kathmandu now owns Rip Curl, the two brands will continue to operate independently: Daly will retain his role as CEO and the headquarters of the iconic surfing company will remain near Bells Beach.