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Authentic Brands Group Officially Withdraws From IPO Process

Authentic Brands Group (ABG) has dialed back its plans to go public.

The retail and marketing powerhouse on Wednesday filed a request to withdraw registration with the Securities and Exchange Commission, officially halting the IPO process it began in July when it first filed an S-1 form.

The news comes shortly after ABG received a pair of new investments from CVC Capital Partners (CVC) and HPS Investment Partners (HPS) in November, which valued the company at $12.7 billion. At the time ABG founder, chairman and CEO Jamie Salter said in an interview with FN’s sister publication WWD that the company would push its IPO “to sometime in 2023 or 2024” as a result of the recent investments. He added that the new investments are still in line with ABG’s growth strategy to bring bring value to its shareholders.

ABG is the company behind dozens of brand and retailer acquisitions, including Forever 21, Barneys New York and J.C. Penney and most recently, the Reebok brand. ABG was awarded Company of the Year in Footwear News’ Annual Achievement Awards in New York in November.

In addition to owning various brands and retailers, ABG also owns the rights to various celebrity collections, including Elvis Presley and former NBA star and ABG shareholder Shaquille O’Neal. The company was recently reported to be looking to buy a majority stake in DB Ventures LLC, David Beckham’s brand-management firm. According to reports, ABG will pay close to 200 million pounds, or $269 million, for a 55% stake in the firm, which manages the former soccer player’s endorsement deals with Tudor watches and Haig, a whiskey brand. However, ABG has not confirmed any deal yet.

In a November interview with FN, Salter said that ABG’s acquisition streak is “just getting started.”

“We’re in the second inning,” he said. “It’s a big world out there and we feel that we can just continue to grow this business.”

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