Want more from Front Office Sports
in your search results?
Reebok and Sports Illustrated owner Authentic Brands Group has expressed interest in a takeover bid for British fashion retailer Ted Baker.
Ted Baker has 376 stores worldwide and its own lines of running shoes and athleisure wear for both men and women.
ABG joins a group of investors who submitted non-binding offers for Ted Baker last week. No deal is imminent, but ABG has submitted its bid in order to partake in the formal sale process.
- Private equity firm Sycamore Partners has also submitted a non-binding bid.
- Sycamore submitted two takeover bids for Ted Baker in March, which got rejected.
- Ted Baker rejected the bids because it undervalued the brand at roughly $334 million.
- The fashion retailer saw its sales increase 35% in 2021.
Investing in well-established properties is no stranger to ABG, which owns fashion, athletic apparel, and equipment brands Nine West, Prince Sports, Tapout, Volcom, and others.
In January, ABG reportedly purchased a 55% stake in David Beckham’s DB Ventures for $271 million. DB Ventures controls the soccer star’s deals with Tudor watches and Haig whiskey. In March, ABG completed its acquisition of Reebok from Adidas in a deal valued at $2.5 billion.
Not in Public
In January, ABG canceled its plans for an IPO, according to an SEC filing. Instead, the conglomerate raised money through private sources and is valued at $13 billion after an investment in November 2021 from CVC Capital Partners and HPS Investment Partners.
ABG CEO Jamie Salter has said that the company still plans to go public, but will likely do so in 2023 or 2024.
Download the FOS App
The business of sports, in your pocket.
Scan the QR code to get the app now.
