Authentic Brands Group, owner of Reebok and Sports Illustrated, has expressed interest in a takeover bid for British fashion retailer Ted Baker.
Ted Baker has 376 stores worldwide and his own lines of running shoes and Athletics to carry both for men and women.
ABG joins a group of investors who submitted non-binding offers for Ted Baker last week. No deal is imminent, but ABG has submitted his offer in order to participate in the formal sale process.
- Private equity firm Sycamore Partners also submitted a non-binding offer.
- Sycamore submitted two takeover bids for Ted Baker in March, which were rejected.
- Ted Baker rejected the offers because he undervalued the mark approximately $334 million.
- The fashion retailer saw its 35% increase in sales in 2021.
Investing in established properties is no stranger to ABG, which owns fashion, sportswear and equipment brands Nine West, Prince Sports, Tapout, Volcom and others.
In January, ABG reportedly bought a 55% stake in David Beckham’s DB Ventures for $271 million. DB Ventures controls the football star’s deals with Tudor watches and Haig whiskey. In March, ABG finished its acquisition of Reebok from Adidas in a transaction valued at $2.5 billion.
Not in public
In January, ABG canceled plans for an IPO, according to an SEC filing. Instead, the conglomerate has raised funds from private sources and is valued at $13 billion after a November 2021 investment from CVC Capital Partners and HPS Investment Partners.
ABG CEO Jamie Salter said the company still plans to go public, but will likely do so in 2023 or 2024.