Sustainable footwear retailer Allbirds has been acquired by American Exchange Group (AXNY) for $39 million in a deal including Allbirds’ intellectual property and certain other assets and liabilities. The purchase has been approved by Allbirds’ Board of Directors, and although it still requires approval by the brand’s common stockholders, the deal is expected to close in Q2 2026, with a distribution to stockholders of net proceeds anticipated in Q3. AXNY manages a number of well-known brands, including Aerosoles, Jonathan Adler and Jones New York.
Allbirds, founded in 2015, opened its first physical stores in 2018 and operated more than 60 stores at its peak in 2023, according to SF Gate. However, the retailer faced economic struggles, and by January 2026 Allbirds announced the planned closure of its remaining U.S. full-price stores and its focus shift to ecommerce, wholesale partnerships and international distributorships.
For Q3 2025, Allbirds generated net revenue of $33.0 million, a 23.3% decrease compared to the same period the previous year. With this acquisition, Allbirds has canceled its Q4 and full-year results earnings releases.
“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,” said Joe Vernachio, CEO of Allbirds in a statement. “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.”
