ABG, SPARC Group Acquire Brooks Brothers

 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.