American Exchange Group Inks $39 Million Deal for Allbirds Assets

Group 1 - American Exchange Group plans to acquire Allbirds' assets for $39 million, pending shareholder approval, with the deal expected to close in Q2 2026 [1] - Allbirds shares closed at $2.98 and surged in after-hours trading following the acquisition announcement [2] - Allbirds experienced a net revenue decline of 23.3% in the most recent third quarter, reporting $33.0 million compared to $43.0 million in the same period last year [5] Group 2 - Allbirds was once celebrated for its sustainable footwear, launching in 2016 with a $95 wool sneaker and selling one million pairs in two years [3] - The brand faced challenges as cofounders Zwillinger and Brown exited, leading to rapid growth and a departure from its core style [4] - CEO Joe Vernachio expressed gratitude for the team's efforts and emphasized the brand's evolution into a lifestyle footwear brand known for design and comfort [6] Group 3 - American Exchange Group has a diverse portfolio of brands, including Aerosoles, White Mountain, and Ed Hardy, indicating its active role in brand management [7]