American Exchange Group, WSG Brands acquire Allbirds intellectual property

American Exchange Group (AEG) and WSG Brands have acquired the intellectual property assets of footwear and lifestyle brand Allbirds. 

The deal brings together AEG’s product development and manufacturing expertise with WSG Brands’ brand management and licensing capabilities.

Under the new ownership structure, AEG and WSG will jointly oversee the future of the brand, with AEG responsible for designing and manufacturing Allbirds footwear while WSG serves as a key operating and growth partner. The companies said they plan to strengthen Allbirds’ existing business while pursuing opportunities across new product categories, retail channels and global markets.

The acquisition was completed alongside a consortium of strategic investors, manufacturers and operating partners aligned with the group’s long-term vision for the brand.

“This acquisition represents an exciting milestone for American Exchange Group and reflects our continued focus on partnering with brands that have strong consumer relevance, differentiated positioning, and significant long-term growth potential,” said Alen Mamrout, chief executive officer of American Exchange Group. 

“By combining AEG’s product development, sourcing, and manufacturing capabilities with WSG’s expertise in brand management and market expansion, we intend to thoughtfully extend Allbirds into new categories, channels, and international markets while preserving the authenticity and values that have made the brand so distinctive.”

Further announcements regarding licensing partnerships, distribution initiatives and international expansion plans are expected in the coming months.

“We believe Allbirds represents one of the most compelling brand opportunities in the market today,” said Jack Cheika, founder and chief executive officer of WSG Brands.

“The brand has built meaningful awareness and consumer affinity around the world. Our vision is to preserve what consumers love about Allbirds while expanding its reach into new categories, markets, and partnerships. Having successfully executed this strategy with Von Dutch, we are excited to begin the next chapter of growth alongside American Exchange Group.”

Back in April, Allbirds entered into a definitive agreement to sell its intellectual property and certain related assets to AEG in a transaction valued at approximately $39 million.

Earlier this year, Allbirds announced plans to close its remaining full-price stores in the U.S. by the end of February, with plans to direct its resources toward its e-commerce platform, wholesale partnerships and international distributors.

Just days away from ceasing operations, it said it would pivot its business to AI compute infrastructure. Allbirds Inc. shares more than quadrupled. The company also changed its name to “NewBird AI.”