Apparel Brand Anne Klein Acquired by WHP Global
WHP Global has acquired Anna Klein, which will be the first brand managed by the new brand management platform.
The acquisition of Anne Klein from Premier Brands Group adds a well-known fashion brand to the company’s fresh portfolio. Anne Klein currently generates more than $700 million in global retail sales with products distributed by partners including Steve Madden, Kasper Group and E. Gluck.
“With its extensive heritage and strong sales base, Anne Klein is the perfect brand to kick off the WHP portfolio,” says Ted Crockin, vice president, Oaktree. “We believe there is ample opportunity for even further growth and look forward to supporting this iconic brand’s next chapter.”
Anne Klein aims to be the first of many brands in the WHP brand management portfolio. WHP plans to deploy up to $1 billion in capital over the next five years into the venture. The new platform will be led by Yehuda Shmidman and is backed by a $200 million equity commitment from funds managed by Oaktree Capital Management.