Rip Curl Acquisition Closes
Kathmandu announced today that its acquisition of Rip Curl officially closed on Oct. 31.
The company bought Rip Curl for US$236 million.
In the most recently ended fiscal year, Rip Curl’s revenue totaled US$307 million and it had EBITDA of US$33 million, according to Kathmandu.
Kathmandu also announced an executive promotion.
The company’s former COO, Reuben Casey, is now CEO of the Kathmandu business.
Xavier Simonet remains the Kathmandu Group CEO.
Michael Daly remains CEO of the Rip Curl business and will report to Simonet.