Allbirds has entered into a definitive agreement to sell its intellectual property and certain assets to American Exchange Group for an estimated $39 million, marking a dramatic decline from its prior multi-billion-dollar valuation and signaling plans to wind down operations.
The transaction, which includes the sale of key brand assets and liabilities, was negotiated by a special committee of independent directors and received unanimous approval from Allbirds’ board. The deal remains subject to shareholder approval, with a proxy statement expected to be filed by late April 2026.
The company expects the transaction to close in the second quarter of 2026. Following completion, Allbirds plans to pursue a formal dissolution and wind-down, with net proceeds from the sale anticipated to be distributed to shareholders in the third quarter of 2026, after accounting for associated expenses.
As a result of the agreement, Allbirds has canceled its previously scheduled fourth quarter 2025 earnings release and conference call. The company still intends to file its annual report with the U.S. Securities and Exchange Commission.
American Exchange Group, known for its portfolio of accessories and licensed brands, will take over Allbirds’ intellectual property as part of its broader strategy to expand and scale consumer brands globally.
KEY QUOTE:
“We are incredibly thankful to our teams for the work they have been doing to fuel our product engine, build awareness of Allbirds and deliver an engaging customer experience. Over the past decade, Allbirds has evolved into a lifestyle footwear brand known for modern design, innovative materials and unparalleled comfort. This next chapter with AXNY builds on the foundational work already completed and sets up the brand to thrive in the years ahead.”
Joe Vernachio, CEO of Allbirds, Inc.
