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Authentic Brands raises $3 billion, pushes back IPO
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The company behind brands such as Brooks Brothers, Eddie Bauer, and Sports Illustrated magazine plans to delay its initial public offering after getting a big new investment from two private-equity firms.
Authentic Brands Group LLC, which develops and licenses its brands to retail operators, said Monday it sold stakes to CVC Capital Partners and HPS Investment Partners in a deal that values the company at $12.7 billion including debt.
The investment will deliver roughly $3.5 billion of fresh capital for Authentic Brands, with the largest piece of it coming from CVC, according to people familiar with the matter. The total also includes additional funds coming from existing investors, one of the people said.
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