September 17, 2012 / 1:22 AM / 5 years ago

Australia's Rip Curl hires adviser for possible sale-source

MELBOURNE, Sept 17 (Reuters) - Australia’s privately owned Rip Curl surfwear company has hired Bank of America Merrill Lynch as advisers on a possible sale of the company, a source familiar with the situation said on Monday.

The company, founded in 1969 by two friends near the surfing haven of Bells Beach, could fetch up to A$480 million ($506 million) in a full sale, the person said, speaking on condition of anonymity because the matter is confidential.

Rip Curl has stores in Australia and New Zealand, the United States and Canada, Europe and South America. (Reporting by Victoria Thieberger; Editing by Lincoln Feast and John Mair)

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