AUSTRALIA: Rip Curl receives investment approaches
Australian surfwear brand Rip Curl has confirmed that "several" unsolicited approaches have been received from international companies looking to invest in the brand.
The privately-held company said it has appointed Merry Lynch to investigate these, as well as a number of global opportunities Rip Curl has identified that could complement its organic growth.
Rip Curl emphasised that if any investment were to take place it would need to be consistent with its objectives of "ensuring our company values and brand values are respected, supporting our staff and being in the interests of our shareholders".
It added that its earnings before interest, taxes, depreciation, and amortization (EBITDA) increased in the 2012 financial year, "in contrast to general surf industry performance."
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