Authentic Brands Group (ABG) and SPARC Group have signed a definitive agreement to purchase Eddie Bauer, the American outdoor brand, from PSEB Group, an operating company owned by Golden Gate Capital.
The company said in a release that ABG will own Eddie Bauer’s intellectual property and the brand’s core operating business will become a part of the SPARC portfolio of brands.
Following the close of the transaction, SPARC’s operating platform will include Eddie Bauer, Brooks Brothers, Lucky Brand, Nautica, Aéropostale and Forever 21, which collectively generate nearly 8.6 billion dollars in retail sales annually.
Eddie Bauer has a 100-year history of unparalleled authority in the outdoor space.
The global outdoor market opportunity has grown exponentially over the last year and we are ready to hit the ground running and guide this brand into new frontiers in partnership with SPARC, Damien and the rest of the Eddie Bauer team.
The company added that Eddie Bauer will remain headquartered in the Seattle area under the leadership of current president Damien Huang.
The Eddie Bauer team, in partnership with SPARC, will manage the brand’s sourcing, product design and development, wholesale, planning and allocation, and e-commerce as well as its 300 stores, which are principally located in the U.S. and Canada.
ABG plans international growth for the brand, with territory expansion opportunities in LATAM, Europe and APAC and near-term launches in China and Korea will drive the initial phase of that growth.