Ted Baker has agreed to a takeover by Reebok owner Authentic Brands Group in a £211 million deal.
In a statement, the US company said it believed it will be a good custodian of the Ted Baker brand and will be well positioned to accelerate its growth, particularly in North America.
The group currently owns a 50% stake in SPARC Group which operates around 1,660 stores in US and has substantial ecommerce and wholesale operations. As a result, ABG may consider entering into formal discussions regarding the combination of Ted Baker operations in North America with those of SPARC.
On completion of the acquisition, ABG is planning to separate the Ted Baker business into an intellectual property holding company and one or more operating companies. The latter would manage the physical retail, ecommerce and wholesale operations of the Ted Baker business. The group will also explore options to transfer full or partial ownership and control of some or all of the operating companies to partners with established operating businesses.
