Licensing firm Authentic Brands Group is expected to reveal it has finalised a deal to purchase the London-based fashion brand for around £200 million ($240 million), representing a price cut from an anticipated £300 million deal, reports Sky News. Ted Baker put itself up for sale in April, attracting suitors including Sycamore Partners, Bluestar Alliance and ABG. Prior to launching the sale, it rejected several bids from private-equity group Sycamore Partners. In May, the brand said it had picked its preferred buyer.
ABG owns Brooks Brothers and Juicy Couture, and acquired Reebok from Adidas in March.
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Ted Baker Rises on Report Juicy Couture Owner Nears Takeover
Known for its suits, shirts and dresses with quirky details, Ted Baker is in the middle of a turnaround plan and had rejected several bids from private-equity group Sycamore before launching the sale process.
