ABG completes acquisition of Ted Baker
Authentic Brands Group (ABG) has completed its acquisition of the Ted Baker business.
ABG is a global brand management company, which owns, manages, and seeks to elevate the long-term value of a global portfolio of brands. For over a decade, ABG has acquired majority ownership interests in over 50 brands including Reebok, Nautica and David Beckham.
ABG agreed to a £211 million deal to acquire Ted Baker in August 2022, giving shareholders 110 pence in cash for each share.
Following the acquisition, ABG now plans to leverage its global network of category experts and established operating partners to convert the Ted Baker business into a licensed business model.
ABG is in discussions with leading operators in key regions to help manage the manufacturing, physical retail, ecommerce and wholesale operations of Ted Baker. In keeping with its brand-building approach, ABG will also work closely with the Ted Baker team on the management, marketing and evolution of one of the British fashion brand.
Jamie Salter, Founder, Chairman and CEO of Authentic Brands Group, said: “We are excited to welcome Ted Baker to the Authentic family.
"This uniquely British brand enhances our fashion portfolio and further reinforces ABG’s brand presence in the UK, Europe and the Middle East. The purchase of Ted Baker is in line with our strategic focus on growing and diversifying the portfolio through the acquisitions of brands that originate from outside of the US.”
Prior to ABG's acquisition, Ted Baker rejected two bids from Sycamore Partners in March, the latter of which valued it at £254 million. The business formally put itself up for sale in April after Sycamore came back with a third bid.