Authentic Brands Group (ABG), owner of Reebok and Forever 21, among others, now has British fashion brand Ted Baker in its portfolio. The Authentic Brands Group reported in a press release that the acquisition of the brand has been completed in recent days.
In August, it became clear that Authentic Brands Group would likely become the new owner of Ted Baker Plc. The company has done Bid 211 million pounds (about 250 million euros) on the British brand. Then an agreement was reached with reservations. Some parties have yet to agree to the takeover, including shareholders of the previously listed Ted Baker. Ted Baker announced, on Monday morning, his withdrawal from the London Stock Exchange.
The Original Brand Collection Transforms Ted Baker’s Business Model
“We are delighted to welcome Ted Baker into the Authentic family,” said Jamie Salter, founder and CEO of Authentic Brands Group, in the press release. “This unique British brand enhances our portfolio and strengthens ABG’s presence in the UK, Europe and the Middle East. The acquisition of Ted Baker aligns with our strategic focus on growing and diversifying our portfolio through the acquisition of brands originating outside the United States.”
Authentic Brands Group wants to turn Ted Baker into a licensing business. She added that the group is currently in “consultations” with several companies that can run Ted Baker’s manufacturing, retail, online and wholesale trade.
Ted Baker sells casual and more formal clothing for men, women and children through its online store and nearly four hundred points of sale worldwide. Authentic Brands Group currently has more than fifty brands in its lifestyle, entertainment and media portfolio.
