Authentic Brands Group, a global brand owner, marketing and entertainment company, and SPARC Group, a leading retail enterprise, have announced that the acquisition of Brooks Brothers is complete.

“We are thrilled to bring this world-class brand into the fold,” says Jamie Salter, founder, chairman and chief executive officer, Authentic Brands Group. “Brooks Brothers comes at an important time in ABG’s development as we are placing a significant emphasis on growing our retail and e-commerce footprint. We see a great opportunity to strategically expand this powerhouse brand across the globe.”

Through the transaction, SPARC, the dedicated operating company for ABG-owned brands including Aéropostale, Nautica and Lucky Brand, assumes the role of core licensee for Brooks Brothers. SPARC will manage the entirety of the Brooks Brothers operations including retail, wholesale and e-commerce.  ABG has purchased the intellectual property and will oversee all licensing partnerships, new business and brand development.  Brand marketing, which will focus on adapting Brooks Brothers for a new generation through enhanced creative, engaging with and growing its following online and launching a fresh slate of collaborations, will be shared by ABG and SPARC.

“Brooks Brothers’ new structure is another example of how ABG and SPARC are innovating the traditional brand model,” says Marc Miller, chief executive officer, SPARC.  “Our strategic partnership will allow us to leverage the tremendous equity of this quintessential American brand through key partnerships, dynamic marketing and cutting-edge product design.”