Authentic Brands Group Holds IPO

Authentic Brands Group (ABG), the parent company of Forever 21, Barneys New York and Nine West, has put its IPO plans on hold to secure new investment.

Funds from CVC Capital Partners (CVC) and HPS Investment Partners (HPS) have signed a final agreement to purchase significant shares of the company, with the Group’s value at $ 12.7 billion. With the addition of these new investors, the Group is currently planning to postpone its originally announced IPO plan in July 2021. The transaction is expected to close in December.

Jamie Salter, ABG’s founder, chairman and CEO, said in a statement: From our leadership to the first impression director, the entire ABG team will build a sustainable and scalable business focused on brand development, digital innovation, e-commerce, specialty retail and expansion into new industries. I’ve done a great job. Proven business model. “

According to media reports, a spokesperson for a company said: “We pursued an IPO to bring value to ABG and its shareholders. We have achieved that with the onboarding of our new equity partners.”

Authentic Brands Group Holds IPO

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