General Atlantic’s minority stake investment will help in the next step of ABG’s development.
The terms of the transaction were not disclosed.
Founded in 2010, ABG generates over $5 billion in retail sales and boasts more than 29 brands spanning fashion, sports and entertainment including Marilyn Monroe, Elvis Presley, Shaquille O’Neal, Juicy Couture, Aéropostale, Jones New York, Neil Lane, Frye, Spyder, Prince and Herve Leger.
In its next growth phrase, ABG will accelerate its efforts to add to its portfolio, expand into new categories, innovate across digital platforms and broaden its global footprint with a key focus on the Chinese market.
“Our partnership with General Atlantic marks an important next phase of growth for ABG,” says Jamie Salter, founder, chairman and chief executive officer, ABG. “General Atlantic’s extensive operational experience across the retail sector combined with the breadth of its
General Atlantic is a growth equity firm that focuses on investments across five sectors–including internet and technology, financial services, business services, retail and consumer, and healthcare. The company also boasts “deep expertise” in the retail and consumer sector and is currently invested in global retailers including Grupo Axo, House of Anita Dongre, Tory Burch and Zimmermann.
General Atlantic will join existing ABG investors Leonard Green & Partners, L.P. and Lion Capital.
“There is significant potential for growth in the brand licensing industry as the traditional retail model is disrupted and consumers increasingly interact directly with brands,” says Andrew Crawford, global head, retail and consumer, General Atlantic. “We believe ABG is well positioned to expand and add to its impressive portfolio of brands as Jamie and his team have not only an exciting vision for the future of the company, but also best-in-class execution. We look forward to partnering with ABG as it continues to grow internationally through new brand partnerships and acquisitions.”
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