Authentic Brands Group (ABG) and SPARC Group have announced a final agreement to purchase the iconic American outdoor brand Eddie Bauer from PSEB Group, a San Francisco-based operating company owned by Golden Gate Capital.
As per the contract, ABG will own Eddie Bauer’s intellectual property and the brand’s main operating business will become a part of the SPARC portfolio of brands. Succeeding 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 in retail sales annually.
ABG owns a portfolio of brands that span the entertainment, media, fashion, active, beauty, home and hospitality sectors.
The acquisition of Eddie Bauer, an outdoor lifestyle pioneer, further diversifies ABG’s portfolio and puts the company at the forefront of this thriving industry vertical. Eddie Bauer is a history-making brand with a legacy built on inspiration, innovation and exploration. The founder of the eponymous brand invented the original down jacket, which revolutionised outerwear and created a wardrobe staple.
After the acquisition is complete, Eddie Bauer will become part of the SPARC organisation. 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 US and Canada.
Eddie Bauer has a robust and growing e-commerce business, which drove nearly half of the brand’s annual retail sales last year.