Allbirds to Sell Assets to American Exchange Group for Approximately $39 Million

On March 30, sustainable footwear brand Allbirds announced that it has entered into a definitive asset purchase agreement with American Exchange Group (hereafter AXNY), a company specializing in accessories design, licensing, and manufacturing. Under the agreement, Allbirds’ intellectual property, along with certain assets and liabilities, will be transferred to AXNY, with the total transaction value estimated at approximately $39 million.

The transaction was negotiated by a special committee of independent directors and received unanimous approval from Allbirds’ Board of Directors. It remains subject to approval by the company’s shareholders, with a proxy statement expected to be filed by late April 2026. The deal is anticipated to close in the second quarter of 2026, with distributions of net proceeds to shareholders—after accounting for wind-down expenses—expected in the third quarter.

A Turning Point for the Brand

This asset sale represents more than a simple restructuring; it marks a pivotal moment that could shape the future of the brand. Since its founding in 2015, Allbirds has grown into a lifestyle footwear brand defined by its use of sustainable materials such as merino wool and plant-based fibers, combining environmental consciousness with exceptional comfort.

Joe Vernachio, CEO of Allbirds, commented: “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.”

Cancellation of Earnings Announcement and Wind-Down Process

As a result of this announcement, the company has canceled its previously scheduled fourth-quarter and full-year 2025 earnings release and conference call. However, it plans to file its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission (SEC) as scheduled.

Following the completion of the asset sale, the company intends to proceed with dissolution and liquidation. This move marks a significant milestone—and effectively a closing chapter—for Allbirds as a publicly listed company.

Potential for Brand Reinvention Under AXNY

American Exchange Group is a global player in fashion accessories and brand management, with extensive experience in handling licensed and private-label brands across multiple categories.

With the acquisition, Allbirds’ intellectual property and brand assets are likely to be restructured under a new operational framework. How AXNY leverages its capabilities in product development, distribution, and marketing will be critical in determining the brand’s future trajectory.

Whether Allbirds’ DNA—rooted in sustainable materials—will expand into broader markets or be redefined in a new direction remains to be seen. This asset sale stands as a defining moment in that evolution.