Authentic Brands Groups is looking to pad its growing portfolio.
Many of the more than 30 brands Authentic owns were purchased when they were distressed, illustrating the company’s preference for pouncing when bankruptcy and other challenges cut the asking price.
The Barneys New York owner has also teamed with mall landlords Simon Property Group and Brookfield Asset Management to acquire some companies. Their first joint deal bailed teen retailer Aéropostale out of bankruptcy in 2016 before the trio reunited to take on Forever 21 and Authentic and Simon also formed the SPARC Group joint venture, which plucked Lucky Brand and Brooks Brothers out of bankruptcy.
For 167 years, Hunter has been producing footwear and is known for the iconic Wellington Boot it introduced in 1956. Each pair of Wellies is handcrafted on the same last from 28 individual parts. Hunter now makes weatherproof outerwear, bags and accessories to complement its footwear assortment. Hunter holds two Royal Warrants of Appointment from the late Queen Elizabeth II and the late Duke of Edinburgh, meaning it supplies services to the royal court. It got 16.5 million pounds in June 2020 from majority stakeholder Pall Mall Legacy, a fund backed by Goldman Sachs and Three Hills Capital Partners. The Wellies maker needed the money to survive the COVID-19 pandemic when live events where it showcased products were shut down.
Hunter is believed to have received another 5 million pounds in February from existing shareholders along with 2 million pounds from lenders to operate while adviser AlixPartners auctions the company.
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