Ted Baker is to be sold to Authentic Brands Group, owners of Juicy Couture, for around £211m (€250m) in cash, which could secure the future of the struggling British fashion chain.
The retailer, best known for its floral designs, said in a statement on Tuesday that the US group had offered the chain 110 pence a share. The deal represents a premium of about 18 percent over the retailer’s closing price on Monday.
Earlier in the year, Authentic Brands held talks with Ted Baker and said they were willing to pay a higher price, but then withdrew from the deal.
Ted Baker’s directors unanimously recommend the deal.
Authentic Brands owns licensing and marketing rights to names such as David Beckham and Juicy Couture and has been a key consolidator in the retail industry.
The New York-based company, founded by Jamie Salter, agreed to buy Reebok from Adidas for $2.5 billion in August last year.
https://www.independent.ie/business/world/fashion-retailer-ted-baker-agrees-sale-to-juicy-couture-owner-41914648.html Fashion retailer Ted Baker agrees to sale to owner of Juicy Couture