General Atlantic, a renowned growth equity firm, has announced a US $ 500 million additional investment in Authentic Brands Group (ABG), the owner of Ted Baker and Quicksilver.
Authentic plans to use the cash to promote “global expansion and accelerate its proven playbook,” which links brands with partners, operators, distributors, and retailers, with the help of General Atlantic.
Presently, Authentic generates more than US $ 25 billion in yearly global retail sales from its portfolio of more than 40 well-known brands.
ABG and General Atlantic first collaborated in October 2017. It has since added 30 businesses and expanded its platform into additional industries. General Atlantic has now contributed close to US $ 2 billion to the business through its follow-on investment.
Jamie Salter, Founder, Chairman and CEO of ABG, commented, “General Atlantic’s increased investment in Authentic is a testament to the strength of our proprietary brand platform, business model and team.”
Authentic’s additional significant shareholders include BlackRock, CVC Capital Partners, Simon Property Group, HPS Investment Partners, Leonard Green & Partners and Brookfield.
Andrew Crawford, Managing Director and Global Head of Consumer at General Atlantic, said, “General Atlantic is proud to be a long-term partner to Jamie and the Authentic Brands Group team.”
