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Authentic Brands Group completes USD250m equity raise

Authentic Brands Group has completed a USD250m equity capital raise with Green Equity Investors V, an affiliate of Leonard Green & Partners, Knight’s Bridge Capital Partners, a wholly-owned subsidiary of Counsel Corporation, and Authentic Brands Group’s chairman, president and chief executive officer James Salter.

The equity capital will be used to fund the growth of Authentic Brands Group’s brand licensing and management business as it looks to acquire and manage consumer brands in the apparel, sporting goods, action sports, home, celebrity, entertainment and consumer electronics segments.

Prior to the establishment of Authentic Brands Group, Salter and Kenneth Finkelstein, chief executive officer of Knight’s Bridge, together with their partners, have developed a track record of acquiring and operating a vast array of brands including Polaroid, The Sharper Image, Ellen Tracy, Tommy Armour, Linens n’ Things, The Bombay Company, Halston, Ride Snowboards and Airwalk.

Through Authentic Brands Group, Salter and his team also provide management services for the Bob Marley family under its celebrity brand division. In previous ventures, Salter has secured partnerships with celebrities including Sarah Jessica Parker at Halston and Lady Gaga at Polaroid to fuel brand recognition.

Salter says: "I am very excited to embark on this new venture with my partners at LGP and Knight’s Bridge. LGP is among the world’s most experienced private equity investors in the retail and branded consumer products industries and Knight’s Bridge will provide its own exceptional investment and brand licensing expertise. Our collective experiences will enable Authentic Brands Group to acquire and grow a global portfolio of world renowned brands."

Jonathan Seiffer, partner at Leonard Green & Partners, says: "We identified the brand acquisition and licensing space as exhibiting significant potential for growth and value creation for our investors. We believe that both James Salter and Knight’s Bridge are the right partners to assist us in the execution of this compelling strategy."

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