Authentic Brands shelves IPO, to sell $12.7 billion stake to investors


Jamie Salter, chairman and chief executive of Authentic Brands Group LLC.

Norm Betts | Bloomberg | Getty Images

Retail conglomerate Authentic Brands Group plans to shelve a planned initial public offering and instead sell significant equity stakes in its business to private equity firm CVC Capital, hedge fund HPS Investment Partners and a pool of existing stakeholders, CNBC has learned.

The deal is valued at roughly $12.7 billion, and is expected to be announced Monday, the company said.

Authentic Brands’ portfolio companies include apparel retailers Forever 21 and Aeropostale, department store chain Barneys New York, men’s suit maker Brooks Brothers and Sports Illustrated magazine. Early…


0 0 votes
Article Rating

Walmart and Target clash with investors over low-price strategy

Previous article

How to navigate the energy transition away from fossil fuels

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Retail