New Zealand-based Kathmandu Holdings, which has been digesting its 2018 addition of footwear brand Oboz, has taken a huge gulp with the acquisition of surf and action sports brand Rip Curl for A$350 million ($234 mm) that will nearly double its top line. The price is 7.3x Rip Curl’s pro-forma normalized EBITDA in the last fiscal year, ended on Jun. 30, which grew to 10.8% of sales from 9.7% in the previous year. Kathmandu will be a more balanced outdoor and action sports company after the move, diversifying its operations in terms of product categories and international reach.

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