Authentic Brands Group LLC, a global brand owner, marketing and entertainment company, and SPARC Group LLC, a retail enterprise, announced a definitive agreement to purchase Eddie Bauer, the iconic American outdoor brand, from PSEB Group, an operating company owned by Golden Gate Capital.
ABG will own Eddie Bauer’s intellectual property and the brand’s core operating business will become a part of the SPARC portfolio of brands. Following the close of the transaction, SPARC’s operating platform will include Eddie Bauer, Brooks Brothers, Lucky Brand, Nautica, Aéropostale and Forever 21, which collectively generate nearly $8.6 billion in systemwide retail sales annually.
ABG owns a portfolio of brands that span the entertainment, media, fashion, active, beauty, home and hospitality sectors. The acquisition of Eddie Bauer, an outdoor lifestyle pioneer, further diversifies ABG’s portfolio and puts the company at the forefront of this thriving industry vertical. Eddie Bauer is a history-making brand with a legacy built on inspiration, innovation and exploration. The founder of the eponymous brand invented the original down jacket, which revolutionized outerwear and created a wardrobe staple.
Today, Eddie Bauer empowers people everywhere to “live their adventure.” Its product offerings include performance outerwear, apparel, swimwear, footwear, accessories and outdoor lifestyle gear.
“Eddie Bauer has a 100-year history of unparalleled authority in the outdoor space,” said Jamie Salter, founder, Chairman and CEO of ABG. “The global outdoor market opportunity has grown exponentially over the last year and we are ready to hit the ground running and guide this brand into new frontiers in partnership with SPARC, Damien and the rest of the Eddie Bauer team.”
After the acquisition is complete, Eddie Bauer will become part of the SPARC organization. Eddie Bauer will remain headquartered in the Seattle area under the leadership of President Damien Huang. The Eddie Bauer team, in partnership with SPARC, will manage the brand’s sourcing, product design and development, wholesale, planning and allocation, and e-commerce as well as its 300 stores, which are principally located in the United States and Canada. Eddie Bauer has a robust and growing e-commerce business, which drove nearly half of the brand’s annual retail sales last year.
“The addition of Eddie Bauer introduces a new and highly-differentiated expertise to the SPARC organization,” said Marc Miller, CEO of SPARC. “The brand pushes the boundaries of technical innovation and performance with award-winning outdoor product offerings, bringing an entirely new component to our fashion and lifestyle brand portfolio. We are excited to work closely with the Eddie Bauer team as we help drive the brand forward.”
