BlackRock LTPC Makes Strategic Investment in Authentic Brands Group
ABG partners with the world’s largest money manager to enter its next phase of global growth.
BlackRock made a strategic investment in ABG through its Long Term Private Capital (LTPC) arm. LTPC leads the $875 million investment to become ABG’s largest investor alongside founding investor Leonard Green & Partners, General Atlantic, Lion Capital, Simon Property Group, Brookfield Properties’ retail group and Shaquille O’Neal. LTPC also joins the company’s board of directors.
“The strategic investment by LTPC is a testament to the success we have had building a leading platform for the ownership and development of brand and media content,” Jamie Salter, ABG Chairman and CEO.
ABG has experienced significant growth since it was founded in 2010 and is now a world-leading brand development, marketing and entertainment company. Our portfolio of over 50 brands generates close to USD $10 billion in annual worldwide revenue in more than 70 countries. Today, our brands span the luxury, specialty and mid-tier retail channels in both e-commerce and brick and mortar, and are diversified across the lifestyle, sports, celebrity, entertainment and media sectors.
The ABG portfolio includes brands such as Marilyn Monroe, Elvis Presley, Muhammad Ali, Shaquille O’Neal, Greg Norman, Thalia Sodi, Neil Lane, Nautica, Aéropostale, Vince Camuto, Nine West, Juicy Couture, Frye, Spyder, Prince and Judith Leiber.
“We believe there is substantial growth still ahead for ABG and look forward to partnering with Jamie and Nick to build a global platform that brings together the worlds of fashion, health and wellness, sports, culture and entertainment,” Colm Lanigan, Senior Member of the Long Term Private Capital team.
ABG’s recent acquisition of Sports Illustrated highlights the company’s ability to expand a cultural centerpiece across digital, TV and social platforms and represents our increasing desire to converge content and commerce. LTPC’s investment marks an important milestone for ABG as we continue to accelerate acquisition efforts, expand into new business verticals, innovate across digital and media platforms and broaden our global footprint.