Authentic Brands Officially Tables IPO

    • Authentic Brands Group officially put aside its planned IPO.
    • The conglomerate could still go public in 2023 or 2024.

Today's Action

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Reebok and Sports Illustrated owner Authentic Brands Group has remained as active as ever, but it won’t be on the public markets any time soon.

The conglomerate officially canceled its plans for an IPO, according to an SEC filing on Wednesday. It had initially filed for the offering in July.

The group has instead raised money through private sources, namely through a November investment from CVC Capital Partners and HPS Investment Partners which valued ABG at $12.7 billion.

  • ABG reportedly agreed to buy a 55% stake in David Beckham’s DB Ventures for $271 million earlier this week.
  • It agreed to buy Reebok from Adidas in August 2021 for $2.5 billion
  • The company struck a deal last month with JD Group to bring the shoe and apparel brand to over 2,850 stores. ABG expects the brand’s retail sales to top $5 billion this year.

ABG also owns apparel brands Airwalk, Prince Sports, Tapout, and Volcom, fashion brands Nine West, Juicy Couture, Brooks Brothers, Aeropostale, and Barneys New York, and the name, image, and likeness rights of Muhammad Ali, Shaquille O’Neal, and Julius Erving. O’Neal holds a significant stake in the company.

IPO Still in the Works

ABG CEO Jamie Salter has said that the company still plans to go public, but will likely do so in 2023 or 2024.

In the SEC filing, the company asked to have its filing fees credited toward any future filings with the agency.