High Street

Reebok owner enters race to buy Ted Baker

Ted Baker rejected a number of bid approaches from US private equity firm Sycamore Partners last month, the first two of which valued Ted Baker at 130p-a-share and 137.5p-a-share - equivalent to roughly £250m

Authentic Brands Group (ABG), The US-based brand licensing empire which includes Reebok and a controlling stake in David Beckham’s consumer goods stable, is reportedly considering a takeover bid for Ted Baker, according to Sky News.

The company, valued at almost £10.1bn, was among several parties exploring the possibility of a bid, and has been in discussions with Ted Baker’s financial advisers. Sky News reported that a deadline for non-binding indicative offers for the company passed on Thursday, with ABG “part of that process”.

Ted Baker rejected a number of bid approaches from US private equity firm Sycamore Partners last month, the first two of which valued Ted Baker at 130p-a-share and 137.5p-a-share – equivalent to roughly £250m.

Ted Baker reported sales growth of 35% last year, and said this month that it was “well-positioned to create significant value for shareholders”.

It said the initial phase of its formal sale process would be based on public information and focus “on those parties who understand and value the full potential of this unique brand”.

It added that a second stage would involve “a select number of parties”.

Back to top button