Kathmandu (ASX:KMD, NZX:KMD) announced that the Company has entered into a binding agreement to acquire Oboz for a cash consideration of US$60m, plus an earn-out of up to US$15m1 subject to Oboz achieving financial milestones in CY18
Oboz is an American outdoor footwear company founded in 2007 and is based in Bozeman, Montana (USA). Oboz designs, sources, and distributes footwear for backpacking, hiking, travel, winter and general outdoor wear through wholesale channels primarily to outdoor retailers in North America. The wholesale only platform with controlled distribution and limited direct to consumer presence allows Oboz to maintain a strong relationship with distribution partners in complementary markets to Kathmandu.
Kathmandu and Oboz have worked in partnership for over 10 years, Kathmandu being historically the second customer of Oboz after REI when the brand launched in 2007. Kathmandu currently is the exclusive retailer of Oboz in Australia and New Zealand.
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