American Exchange Group acquires Allbirds for 39 million dollars

US footwear brand Allbirds has announced a definitive agreement to sell its intellectual property and specific assets and liabilities to American Exchange Group. The New York-based firm, which specializes in accessories design and manufacturing, will acquire the brand for an estimated 39 million dollars.

The transaction was negotiated by a special committee of independent directors and received unanimous approval from the Allbirds board of directors. A proxy statement detailing the asset sale and the subsequent dissolution and winding down of the company is expected to be filed by April 24, 2026. Allbirds anticipates the transaction will close in the second quarter of 2026.

Strategic shift for lifestyle footwear brand

Allbirds chief executive officer, Joe Vernachio, expressed gratitude to the teams responsible for building the brand identity over the last decade. Since its founding in 2015, the company has positioned itself as a modern lifestyle footwear brand utilizing innovative materials.

“This next chapter with American Exchange Group builds on the foundational work already completed and sets up the brand to thrive in the years ahead,” stated Vernachio. The brand became known for its signature Wool Runner and its focus on comfort-driven design.

Following the closing of the sale, a distribution of net proceeds to stockholders is expected during the third quarter of 2026. These proceeds will account for the costs associated with the wind-down of the business.

Financial reporting and transition

In light of the acquisition news, Allbirds canceled its earnings press release and conference call originally scheduled for March 31, 2026. The company still intends to file its annual report on Form 10-K for the year ended December 31, 2025.

The transition marks a significant pivot for the San Francisco-based company as it moves toward dissolution under the new ownership.