Lion Capital signed a definitive agreement to acquire a minority stake in brand development company Authentic Brands Group (ABG) from certain existing shareholders. Authentic Brands Group is a portfolio company of Leonard Green & Partners.
ABG owns the estate of Marilyn Monroe, and has also licensed the “Mini Marilyn” franchise.
Lion Capital LLP (“Lion Capital”), a consumer-focused investment firm known for their international expertise with brands including AllSaints, Jimmy Choo, John Varvatos and Alex and Ani, has signed a definitive agreement to acquire a minority interest in Authentic Brands Group LLC (“ABG”) from certain of ABG’s existing shareholders. The terms of the transaction were not disclosed.
Headquartered in New York City, ABG is a brand development company which owns a leading global portfolio of iconic fashion, sports and entertainment brands. ABG’s mission is to acquire, manage and build long-term value of consumer brands through partnering with best-in-class licensees and retailers. ABG’s current brand portfolio includes more than 23 world-renowned brands such as Elvis Presley,Marilyn Monroe, Muhammad Ali, Shaquille O’Neal, Juicy Couture, Judith Leiber, Jones New York, Hickey Freeman, Spyder and Tapout. ABG was founded in 2010 and is a portfolio company of Leonard Green & Partners, L.P. (“LGP”). LGP and Jamie Salter will remain the majority owners of ABG upon completion of the Lion transaction.
“We are extremely fortunate to have LGP as our partner and we are thrilled to add Lion Capital as our newest partner alongside LGP,” said Jamie Salter, Chairman and CEO, Authentic Brands Group.
“After spending time with Jamie and the ABG team, I have gained a tremendous respect for the platform the ABG team has built,” said Lyndon Lea, Partner, Lion Capital. “Jamie and I saw appealing synergies between ABG and Lion Capital, and our investment represents an exciting next step for the development of ABG.”
“Jamie and his team have built an incredible business in a short timeframe and we are genuinely proud of all the company’s success,” said Jonathan Seiffer, Senior Partner, LGP. “We are excited to have Lion Capital partner with us and management as ABG continues to expand and grow its portfolio.”