The deal brings Eddie Bauer under the SPARC portfolio of brands, which includes Brooks Brothers, Lucky Brand, Nautica, Aéropostale and Forever 21. SPARC is a joint venture between ABG and Simon Property Group. ABG will own Eddie Bauer’s intellectual property through the transaction.
The acquisition comes after Eddie Bauer was resurrected from bankruptcy by Golden Gate Capital, which purchased the brand in 2009. Eddie Bauer was managed under Golden Gate’s PSEB business, which also operated Pacific Sunwear. Kohl’s partnered with Eddie Bauer in February to carry the brand in its retail stores, sister media outlet Chain Store Age reported.
“We have enjoyed a highly successful partnership with Eddie Bauer since 2009 and are proud of the company’s tremendous transformation during that time,” said Neale Attenborough, PSEB chairman and operating partner at Golden Gate Capital. “With significant scale, unique brand-building capabilities and deep operational acumen, we are confident that ABG and SPARC are the perfect partners to enable Eddie Bauer to continue to flourish.”
Under new ownership, ABG plans to expand Eddie Bauer into new outdoor product categories and broader distribution, including international growth with launches in China and Korea. Eddie Bauer will keep Seattle as its headquarters, under the leadership of current president Damien Huang.
“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.”
See the full story at Chain Store Age.