The owner of renowned brands such as Reebok and Forever 21 has decided to buy a high street clothing retailer.
Yes, Authentic Brands Group, which is better known as ABG, has decided to acquire British clothing retailer Ted Baker for £ 211 million.
The retailer has, reportedly, recommended that shareholders vote in favour of the offer that’s backed by directors of Ted Baker as well as its largest shareholders.
Ted Baker – under the agreement – will become a privately owned firm and will be separated into an intellectual property holding company.
This company, reportedly, will be controlled by ABG as well as by one or more operating companies which would manage the physical retail, e-commerce and wholesale operations of the Ted Baker business.
The Group said it intends to explore options to transfer full or partial ownership and control of some or all of such operating companies to partners with established operating businesses.
