ABG Reportedly Enters the Race to Buy Ted Baker

Authentic Brands Group is reportedly considering a bid to acquire Ted Baker, the London-based fashion brand.

The global brand and marketing powerhouse is one of multiple interested parties who has engaged with Ted Baker in recent weeks, Sky News reported on Saturday. According to the report, it is unclear if ABG has submitted a formal offer, but it among other interested companies exploring its options.

ABG and Ted Baker declined to comment.

Earlier this month, Ted Baker said in a public statement that it had entered into a process to put itself up for sale. The company also said it had received two unsolicited non-binding proposals from Sycamore Partners to acquire the company, which were rejected due to the way in which they each “significantly undervalued” the company.

Ted Baker said it received an improved offer from Sycamore as well as a third offer from another party. Ted Baker said it will limit its engagement with companies that “understand and value the full potential of this unique brand.”

Ted Baker, which operates almost 400 locations across the world, posted a lift in overall sales for the quarter ending in January. Sales jumped 35% year over year for the quarter.

If ABG’s bid is successful, Ted Baker would join the company’s roster of brands, which includes Forever 21, Barneys New York, J.C. Penney, Reebok, Muhammad Ali, Shaquille O’Neal, Marilyn Monroe and most recently, David Beckham’s global brand. ABG entered into a deal to co-own and manage David Beckham’s global brand in February.

ABG, led by CEO Jamie Salter and president and CMO Nick Woodhouse, was awarded Company of the Year in Footwear News’ Annual Achievement Awards in New York in November.

ABG filed for an IPO in July but delayed plans to go public after it received a pair of new investments from CVC Capital Partners (CVC) and HPS Investment Partners (HPS) in November.

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