Slaughter and May and Freshfields Bruckhaus Deringer have bagged roles on the acquisition of troubled British luxury brand Ted Baker, by U.S. consumer goods group, Authentic Brands Group (ABG).
ABG, which owns retail brands including Reebok and Forever 21, is set to buy Ted Baker for approximately £211 million, according to an announcement by Ted Baker on Tuesday.
Freshfields Bruckhaus Deringer is advising long-term client Ted Baker with a team led by London-based corporate partner and head of sports and gaming practice Chris Mort and corporate partner Rhys Evans, according to a spokesperson for the firm.
Mort was part of the Freshfields team that advised the British clothing company on a review of the company’s finances in 2019.
Slaughter and May is advising ABG, according to the Ted Baker statement. The firm’s team is led by co-head of the financial institutions group and former M&A head, Roland Turnill alongside corporate partner Richard Hilton.
ABG has previously called up U.S. heavyweight Latham & Watkins. It appointed the firm in 2021 when it acquired iconic trainer makers, Reebok, from sportswear heavyweights Adidas for €2.1 billion, as well as the more recent partnership between the group and David Beckham’s global brand.
Founded by Canadian billionaire Jamie Salter, ABG owns a portfolio of clothing and lifestyle brands from around the world, including Sports Illustrated magazine, Juicy Couture and Muhammed Ali’s global brand.