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Kathmandu buys Rip Curl

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Kathmandu announced the acquisition of Rip Curl.

The New Zealand-based retailer has taken over the iconic Australian surf brand for A$350 million ($236 million).

Rip Curl was founded in 1969 by Brian Singer and Doug Warbrick, in Torquay. The company has been in the hands of the duo ever since.

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