Reebok-Owner ABG Agrees To Buy Fashion Group Ted Baker
Written by City Radio on August 16, 2022
Authentic Brands Group, the US owner of sports clothes marque Reebok and leisure wear maker Juicy Couture, has agreed to buy struggling British fashion group Ted Baker, the pair announced Tuesday.
ABG has struck a deal to buy the 35-year-old company for £211 million ($254 million).
Like other bricks-and-mortar businesses, Ted Baker has struggled in the face of fierce online competition before and during the Covid pandemic.
Ted Baker shares surged 17 percent in London deals in a move that reflected the offer price.