American Exchange Group has reached a definitive agreement to acquire substantially all the intellectual property, assets and certain liabilities of lifestyle footwear maker Allbirds for about $39 million, marking a dramatic turn for the once‑high‑profile sustainable brand, according to people familiar with the matter.
Under the terms of the deal, Allbirds will sell its key brand rights and other selected assets to the New York‑based accessories and brand management firm, with the final purchase price subject to customary adjustments on closing. The transaction was unanimously approved by Allbirds’ board and remains subject to approval by its common stockholders. A proxy statement detailing the sale and the company’s planned dissolution and wind‑down is expected to be filed by April 24, 2026, with the closing anticipated in the second quarter of the year.
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Allbirds also plans to distribute net proceeds from the sale to shareholders in the third quarter after settling liabilities and wind‑down costs, executives said. Shareholders reacted to the news with a notable jump in Allbirds’ stock in after‑hours trading.
The deal signals a strategic shift for Allbirds, which rose to fame with its eco‑friendly wool sneakers and direct‑to‑consumer business model, but later struggled to sustain momentum amid heavy losses and store closures. The $39 million sale price represents only a fraction of the valuation the company once commanded following its 2021 initial public offering — a reminder of the challenges facing digitally native lifestyle brands in an increasingly competitive market.
American Exchange Group, which operates and licenses a portfolio of consumer brands, said the acquisition “builds on foundational work completed and sets up the Allbirds brand to thrive in the years ahead,” according to a company statement.
