ABG, SPARC Group Acquire Brooks Brothers

Brooks Brothers has announced that the Authentic Brands Group and SPARC Group were selected as the winning bidders in the company’s sale process.

 The announcement comes after the winning bidders increased their offer to $325 million for the vast majority of the company’s global business operations and intellectual property portfolio.

As part of the agreement, SPARC has committed to continue operating at least 125 Brooks Brothers retail locations. The bidders also intend to preserve the Brooks Brothers brand as a whole.

SPARC, which is partially owned by ABG, possess extensive experience in both brick-and-mortar and ecommerce retail. The company is a dedicated operating company for Aéropostale, Forever 21 and Nautica, which they previously bought through bankruptcy deals.  ABG and SPARC also recently announced the acquisition of Lucky Brand through a similar deal.