Simon Property and Authentic Brands to Buy Eddie Bauer
07:00 AM EDT, 05/10/2021 (MT Newswires) -- Authentic Brands and SPARC Group have agreed to buy American outdoor brand Eddie Bauer from a unit of Golden Gate Capital, the companies said Friday.
SPARC is a venture-backed by Authentic and Simon Property Group (SPG), the largest US shopping mall operator.
Authentic will own Eddie Bauer's intellectual property, while the brand's core operating business will join the SPARC portfolio of brands, which include Brooks Brothers, Nautica and Forever 21.
Eddie Bauer will continue to be headquartered in the Seattle area and will continue to be headed by President Damien Huang.
Financial terms of the deal, which is expected to close by June 1, were not disclosed.
Price: 125.40, Change: +0.46, Percent Change: +0.37