Business > Commercial Real Estate

Owner of Aeropostale, Forever 21, Juicy Couture set to buy Brooks Brothers for $325 million

1 month ago   |   By Business Insider

Brooks Brothers announced that Authentic Brands Group and SPARC Group LLC were the winning bidders for the suiting company, which filed for Chapter 11 bankruptcy last month.
ABG and SPARC increased its initial offer of $305 million to $325 million, and agreed to keep at least 125 retail locations operating.
ABG, a retail management company, and SPARC, a joint venture between ABG and mall owner Simon Properties, have previously worked together to purchase distressed retailers like Aeropostale and Juicy Couture.
WHP Global, another retail management company, was also interested in the sale...
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Simon, Authentic Brands to buy Brooks Brothers

Simon, Authentic Brands to buy Brooks Brothers

1 month ago   |   By The Real Deal New York

Brooks Brothers has found its white knight in mall giant Simon Property Group and apparel licensing firm, Authentic Brands Group. A venture between the two companies, known as Sparc Group, has agreed to buy the retailer for $325 million, the Wall Street Journal reports. Brooks Brothers will close 75 of its 200 stores as part of the deal. Sparc submitted a $305 million stalking horse bid last month. Brooks Brothers, which filed for Chapter 11
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