KMD Brands has dismissed a push to demerge the company’s Rip Curl brand and merge it with a rival surf label, describing the proposal as a move that would create no value for investors and would be difficult to put into practice.
The Australian Financial Review on Monday revealed that California-based Stokehouse, led by former Billabong executives Paul Naude and Derek O’Neill, had put forward a plan for ASX-listed KMD to spin Rip Curl into a separate listed company and merge it with its own business.
